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European equities remain pretty flat into the second half of the week, even after more highs in the US and Asia. But this is excusable as investors digest a US Fed confused by absent inflation despite low unemployment. We are also no nearer clarity on Catalan independence with Spanish PM Rajoy giving separatist leader Puigdemont five days to clarify his call. If a catalyst is required, traders are likely looking to US banks to spice things up with earnings today through Tuesday.
The UK UK 100 is just positive, helped by defensives RB, ULVR, VOD & GSK, and Sky after its Q1 results. Holding us back are HSBC (ex-div), RDSb (IEA report on oil) and STAN (profit taking after IMF said the bank was vulnerable). The German DAX is flat as gains for Lufthansa (close to completing Air Berlin acquisition), Vonovia (Dovish Fed), Merck, Henkel and Deutsche Boerse are offset by losses for HeidelbergCement, Deutsche Bank (IMF said it was vulnerable), BMW (stronger EUR vs USD) and Infineon.
The UK Index 100 is on-track for a retest of recent 7555 resistance. Breakout towards 7600 record highs? The DAX 30 continues to test 12980 resistance. Breakout? Dow Jones Futures are narrowing into 22900 to complete a 1-month bullish flag. Gold’s rebound has again found resistance, this time at $1298.
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The UK Index 100 is on-track for a retest of recent 7555 resistance. Breakout towards 7600 record highs? Moving averages set-up is bullish.
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 continues to test 12980 resistance. Breakout? Back to record highs?
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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Dow Jones Futures are narrowing into 22900 to complete a 1-month bullish flag. However we are conscious potential for a bearish wedge reversal.
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 rebound has again found resistance, this time at $1298. Note the RSI remains bullish.
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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