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The markets are still monitoring the situation in Iraq closely as the violence escalates and foreign intervention seems ever more likely. However, a flurry of M&A activity in the US has spurred the markets on. Germany’s DAX is the standout performer today, but with talk of an earlier than anticipated BoE rate rise the UK Index is lagging behind.
The UK UK Index is trading towards 1-month lows of 6770 where we find an 3-month intersecting trend line and 6-week support.
Germany’s DAX is once again getting close to those all-time highs we saw recently. Resistance maybe seen at 9998, but a break above that level could pave the way for new all-time highs.
The US Dow Jones has been driven by a wave of M&A activity recently, with stock prices diving it back through 16800. If the hurdles of 16820, 16864 and 16930 are breached a return to 16969 could be achieved.
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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
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
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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