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Equities are negative across the board this morning, with London leading the way, as an increase in the US Dollar Basket index and falling Crude Oil prices impact on the heavily weighted Energy sector. Dovish comments made by US Fed Chair Janet Yellen regarding a potential 2016 rate hike and BoE Governor Mark Carney’s admission that the Bank would tolerate an inflation overshoot as prices react to Sterling weakness on Friday weighing on investor sentiment. This morning’s announcement that Eurozone CPI inflation figures were all bang in-line with expectations has done little to buoy markets so far before ECB monetary policymakers meet on Thursday.
The UK Index 100 continues to decline below the 7000 mark that could see it challenge 3 month rising lows support at 6960. The DAX 30 is also negative despite some early morning gains, continuing news regarding the future of Deutsche Bank’s operations in both the US and continental Europe reversing gains made on Friday as the index heads towards 10500. Dow Jones Futures remain flat before Q3 earnings reporting continues this afternoon, trading slightly lower just below 18100. Gold has pared the majority of gains made overnight and opens in a $1250-$1270 channel for the second week in a row.
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The UK 100 continues to decline below the 7000 mark and is now challenging 3 month rising lows support at 6960. The heavily weighted energy is providing the majority of losses as Crude Oil prices continues to decline after US oil rig count reaches 7 month high.
Watch levels: Bullish 6990, Bearish 6930
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 also negative despite some early morning gains, continuing news regarding the future of Deutsche Bank’s operations in both the US and continental Europe reversing gains made on Friday as the index approaches 10500.
Watch levels: Bullish 10620, Bearish 10450
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 remain flat before Q3 earnings reporting continues this afternoon, trading slightly lower just below 18100. Can earnings results follow the positive trend from Friday and provide a boost to the index?
Watch levels: Bullish 18110, Bearish 18050
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 has pared the majority of gains made overnight and opens in a $1250-$1270 channel for the second week in a row, remaining flat in the run up to the ECB monetary policy update on Thursday.
Watch levels: Bullish $1262, Bearish $1249
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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