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Equity markets remain southerly oriented into the weekend. Investors remain nervous about who will prove victorious in next Tuesday’s US election. They are also having to deal with a more hawkish central bank outlook globally as the US Fed preps us for another step towards policy normalisation via a December rate hike and its Bank of England peer shifts away from more stimulus thanks to the UK economy weathering the Brexit storm. All this amid traditional apprehension before the US monthly jobs report, a half decent number likely all Janet Yellen’s Fed needs to see before pulling the trigger.
The UK 100 has already given up 300pts this week to revisit 6700. Recovery rally to 6800, or bearish pennant back to 4-month support at 6760?? Could July lows of 6600 even be on the cards? The DAX 30 has bounced off its 10200 200-day moving average and late September lows at 10190. Bounce to 10800, or bearish double-top breakdown to 9600? Dow Jones Futures declines may have slowed but they continue to flirt with September 17900 lows. Bounce to 18200 or bearish triangle breakdown to 17100? Gold is struggling to make headway at $1300. Breakout to $1308, or back to $1295 even though political reasons for safehaven demand remain?
The UK 100 has already given up 300pts this week to revisit 6700. Recovery rally to 6800, or bearish pennant back to 4-month support at 6660? Could July lows of 6600 even be on the cards?
Watch levels: Bullish 6730, Bearish 6685
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 found support just above its 10200 200-day moving average and late September lows of 10190. Bounce to 10800? Or bearish double-top breakdown to 9600?
Watch levels: Bullish 10260, Bearish 10180
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 declines may have slowed but they continue to flirt with September 17900 lows. Bullish bounce to 18200 or bearish triangle breakdown to 17100?
Watch levels: Bullish 17960, Bearish 17890
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 is struggling to make headway at $1300 Breakout to $1308, or back to $1295 even though political reasons for safehaven demand remain?
Watch levels: Bullish $1304, Bearish $1299
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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