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Global equities are mixed this morning despite a Macron French Presidential victory, suggesting it was priced in before the weekend. Disappointing China trade data has also dampened optimism, pushing commodities lower. Investors have ushered in the new week by immediately shifting focus to the next month of risk events: An OPEC production cut extension meeting, UK General election, French parliamentary elections and Fed/ECB updates are all sure to keep us on our toes.
The UK 100 is outperforming thanks to BP & Shell (optimism on OPEC extension) and defensives (HSBC, GSK, NG, VOD) offsetting weakness among the Miners (China data), UK Banks (profit taking) and US beneficiaries suffering from doubts about Trump progress (CRH, WOS). Germany’s DAX is struggling under the weight of losses for Banks (profit taking), Adidas (results), Lufthansa (wants to buy Air Berlin) and ThyssenKrupp.
The UK Index 100 is back above 7300 after a brief pullback from overnight highs. The DAX 30 has pulled back from fresh all-time highs to find 3-week rising support at 12660. Dow Jones Futures are off their recent 21075 highs, but not given up much ground. Gold’s bounce has found dual resistance at $1235.
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The UK Index 100 is back above 7300 after a brief pullback from overnight highs.
Watch levels: Bullish 7320; Bearish 7290
Solid Green line
Possible support
Solid Red line
Possible resistance
Important: The information provided above does not constitute advice or opinion and must only be regarded as technical observations.
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The DAX 30 has pulled back from fresh all-time highs to find 3-week rising support at 12660.
Watch levels: Bullish 12700; Bearish 12660
Solid Green line
Possible support
Solid Red line
Possible resistance
Important: The information provided above does not constitute advice or opinion and must only be regarded as technical observations.
Click here for help with Support & Resistance Click here for help with technicals
Dow Jones Futures are off their recent 21075 highs, but not given up much ground.
Watch levels: Bullish 21020; Bearish 20,960
Solid Green line
Possible support
Solid Red line
Possible resistance
Important: The information provided above does not constitute advice or opinion and must only be regarded as technical observations.
Click here for help with Support & Resistance Click here for help with technicals
Gold bounce has found dual resistance at $1235.
Watch levels: Bullish $1237; Bearish $1233
Solid Green line
Possible support
Solid Red line
Possible resistance
Important: The information provided above does not constitute advice or opinion and must only be regarded as technical observations.
Click here for help with Support & Resistance Click here for help with technicals
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