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Equities have extended their gains on news that – no, we don’t have an oil production freeze agreement from Algiers – rather talk of the German government working on contingency plans in case things get worse for troubled Deutsche Bank. While a bailout harks back to the bad old days of the crisis, removal of the risk of another bank going under, rippling through an already nervous financial sector, is helping buoy and investor sentiment. Oil prices off their lows and a bounce in base metal prices thanks to a USD off its highs is also contributing to improved risk appetite.
The UK 100 has rallied strongly since the open, but found a hurdle in yesterday’s 6870 highs. The DAX 30 rebound has broken above 10470 to test 10500. Dow Jones Futures are trying for a break above 18250 but struggling to hold their gains. Gold remains weak since turning back from $1340, but 2016 rising support lurks at $1320.
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The UK 100 ‘s has rallied strongly since the open, but found a hurdle in yesterday’s 6870 highs. Can it break higher, or will it retrace?
Watch levels: Bullish 6885, Bearish 6850
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 rebound has broken above 10470 to test 10500. Does it have legs?
Watch levels: Bullish 10510, Bearish 10465
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 trying for a break above 18250 but struggling to hold their gains. Uptrend from yesterday’s lows still valid at 18230
Watch levels: Bullish 18275, Bearish 18215
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 remains weak since turning back from $1340, but 2016 rising support lurks at $1320.
Watch levels: Bullish $1327, Bearish $1323.5
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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