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Equities are back in the red as investors digest suspiciously stable China GDP growth (three quarters in a row?! Really?) whilst gearing up for another round of Trump vs Clinton and pondering what Mario Draghi and his ECB will do with their struggling QE programme. Optimism grows about Saudi Arabia actually cutting oil output although reports that Venezuela’s oil giant might default on its bonds next week only add to the global oil supply glut miserly and need for a coordinated OPEC-led production cut at the end-November meeting in Vienna. UK data remains very positive helping GBP hold ground.
The UK Index 100 broken back below 7000 but still holding September uptrend. The DAX 30 has sold back from its 2-month shallow falling highs ceiling at 10650. Dow Jones Futures remain sideways in the middle of their 2-month narrowing range 17950-18350. Gold has broken out at $1265 with potential for a bullish triple-bottom to complete at $1280.
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The UK 100 broken back below 7000 but still holding September uptrend.
Watch levels: Bullish 6990, Bearish 6970
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 has sold back from 2-month shallow falling highs ceiling at 10650. Back to its floor of rising lows via a bearish rising wedge? Or will 1-week rising lows maintain the uptrend?
Watch levels: Bullish 10625, Bearish 10585
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 sideways in the middle of their 2-month narrowing range 17950-18350. Rising lows or falling highs – which will prevail?
Watch levels: Bullish 18160, Bearish 18115
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 broken out at $1265 with potential for a bullish triple-bottom to complete at $1280.
Watch levels: Bullish $1270, Bearish $1263
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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