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Equity markets pretty much flat amid a welcome calming of recent volatility as investors adopt their traditional wait-and-see ahead of the US monthly jobs report, even if it should have little bearing on the topic and driver of the week – the Fed’s ability to raise rates in 2016 amid soggy data and protracted financial market gyrations following its December hike.
UK 100 holding 5900, mid-way between Wednesday’s 5780 lows and likely 6000 hurdle. DAX unable to hold above 9400, still in accelerated Feb downtrend. Wall St futures back at 16400 remain cosy with Feb highs. Gold pausing at $1155 after breakout from 11-month downtrend.
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UK 100 sideways around 5900 taking a pause after the volatility of the last week. Potential for 60 point move should we get any break-up or down.
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Possible support
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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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DAX off its worst levels sub-9300, but still in accelerated Feb downtrend. Recent EUR strength is a hindrance for German exporter names.
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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US Dow Jones remains close to recent highs, suggesting desire for a breakout, to maintain the uptrend from Jan lows.
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’s reversal and breakouts beyond 3-month and 11-month falling highs have brought it as far as $1155 where it is taking a breather. Potential for further gains towards Oct $1190 highs, although RSI suggests overbought after a gains of $100.
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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