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Equity indices are surprisingly positive this morning in spite of tomorrow’s monetary policy updates from Japan and the US. This suggests that investors are comfortable taking more risks, pricing in a positive outcomes from the pair; the Fed holding fire and Japan turning the stimulus dial up a notch in response to a detailed review of current measures. Note oil hovering back around September lows, at odds with slim gains for metals, notably copper back on the front foot.
The UK 100 has staged another breakout, this time through the 6820 mark which could see it continue to September highs of 6930. The DAX 30 continues today’s breakout trend after shooting through 10380 and is looking to consolidate its position. Dow Jones Futures may have lost yesterday’s momentum as investors await the Fed but remains in uptrend. Gold is trading positively for the second session in a row as the interest-rate sensitive metal is favoured by investors.
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The UK 100 has staged another breakout, this time through the 6820 mark which could see it continue to September highs of 6930 should tomorrow’s macro events play out according to investors.
Watch levels: Bullish 6845, Bearish 6815
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 continues today’s breakout trend after shooting through 10380 and is looking to consolidate its position.
Watch levels: Bullish 10450, Bearish 10400
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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Dow Jones Futures may have lost yesterday’s momentum as investors await the Fed. Narrowing pattern since mid-month?
Watch levels: Bullish 18190, Bearish 18140
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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Gold is trading positively for the second session in a row as the interest-rate sensitive metal is favoured by investors. However, the 2016 uptrend may have recently been breached, putting the safe haven in a 3 month sideways $1305 to $1340 range.
Watch levels: Bullish $1318, Bearish $1314
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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