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Equities markets are in the green this morning following an overnight rally in Asia, that in turn following stateside bourses northwards. Consumer and economic confidence are the drivers with renewed hopes for emerging markets helping to stabilise energy and commodity prices.
UK 100 is testing 6170 and the ceiling of its recent trading range, DAX maintaining rising support at the floor of its Sept rising channel, Wall St. futures are heading back into the upper half of their Oct sideways range and Gold has broken beneath rising lows on renewed risk appetite.
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UK 100 – Bounce from mid-Dec lows continues following a break above the 20-day MA. Daily RSI poking up into bullish territory. Ascending triangle breakout to put the 100-day MA 6225 in the index’s sights?
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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Germany’s DAX – A narrowing pattern / pennant following the late Nov / early Dec sell-off is a concern, potentially heralding another leg down. Nonetheless, support at both Sept rising lows and the 100-day MA appears to be holding.
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 futures have broken above their 200-day MA while struggling to maintain that early morning momentum. Note RSI remains just south of neutral. The US open should add some spice to the mix.
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 has broken down below its recent steeply rising trend line.
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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