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European equities are positive this morning with now ever present geopolitical tensions doing little to halt northward proceedings and low US volume later in the day set to add little to the pot. UK equities are getting a boost from miners and energy after industrial metals came off their lows overnight. Note, however, oil prices letting go of overnight gains into the European session.
UK Index is holding its uptrend around 6350, while resistance looms large around 6380. DAX has also broken out above recent highs 11187 and is looking to eye mid-August levels (100pts above). Wall St is doing virtually nothing as expected (Thanksgiving) and Gold is flat – but near rising support in an 11-day narrowing pattern.
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UK 100 is hanging around overnight highs 6350. Daily RSI in bullish territory. However, note 100-day MA 6360 and falling highs resistance 6380 threatening the integrity of the uptrend from late-Aug lows.
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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Germany’s DAX still in September uptrend, with the index now back above the 200-day MA while resistance 11370 is still to be bettered. Plenty of support all the way down to 10500.
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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US Dow Jones futures in the blue but set to meet June trend of falling highs 17900. Less chance that a move will have strong legs now that the US is on holiday (and having a half day tomorrow to boot..).
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’s got support at $1070. However we note that it is languishing around that level with Nov falling highs a steep hindrance and the potential for this to be the culmination of a month-long consolidation period ahead of further downside.
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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