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Equities are holding up well, but clearly taking a breather following a strong week. Bullish optimism is keeping indices close to their December rally highs, hopes abound that continued highly accommodative monetary policy (measured Fed rate hikes, ECB stimulus for longer) is destined to be helpfully accompanied by Trump-inspired stateside fiscal stimulus ideas which may catch on elsewhere following years of over-reliance on central banks. Diminished fears about Italy’s banks has also helped ensure that this year’s UK Index Santa Rally is already showing gains of 4.5%, just over a week into December.
The UK 100 is holding a 6930-6950 sideways range since yesterday’s close, although appetite for a breakout is clear. The DAX 30 is taking a breather from 11200 after a 6% rally this week. Support at 11150 so far. Dow Jones Futures sideways in narrow 19610-19640 range after yesterday’s step up from 19500 added to a month-long Trump rally. Gold at $1169 is in the midst of a bounce from overnight lows.
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The UK 100 is holding a 6930-6950 sideways range since yesterday’s close, although appetite for a breakout towards October highs of 7135 is clear.
Watch levels: Bullish 6955, Bearish 6925
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 is taking a breather from 11200 after a 6% rally this week. Support at 11150 so far. Pause before another breakout to fresh 13-month highs at 11400?
Watch levels: Bullish 11210, Bearish 11135
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 sideways in narrow 19610-19640 range after yesterday’s step up from 19500 added to a month-long Trump rally.
Watch levels: Bullish 19645, Bearish 19605
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 at $1169 is in the midst of a bounce from overnight lows.
Watch levels: Bullish $1170.5, Bearish $1168
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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