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Equities indices are down sharply this morning as investors react to heightened fears about, firstly, a Fed rate hike next week and what it means for diverging global monetary policy, and, secondly, a new layer of political event risk as questions are asked about the health of Hillary Clinton and what that means for an already ‘interesting’ US presidential race set to conclude in just months. Weaker commodity prices are also hampering risk appetite with Oil having reversed last week’s gains and Copper breaking down to post fresh September lows. Bond yields back positive is also spooking some.
The UK 100 is in the midst of a bearish double-top back towards 6600. The DAX 30 has found support around 10350 after breaking below 2-month rising support at 10600. Dow Jones futures have breached 7-month rising support at 10800. Gold’s is back in the middle of is $1320-1350 narrowing rangem, still sensitive to monetary policy expectations and the USD.
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The UK 100 is in the midst of a bearish double-top back towards 6610. Will it find support here, or retrace more of the summer’s gains.
Watch levels: Bullish 6685, Bearish 6655
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 around 10350 after breaking below 2-month rising support at 10600.
Watch levels: Bullish 10450, Bearish 10305
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 have breached 7-month rising support at 10800. Back to 17000?
Watch levels: Bullish 18000, Bearish 17900
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’s is back in the middle of is $1320-1350 narrowing rangem, still sensitive to monetary policy expectations and the USD.
Watch levels: Bullish $1331, Bearish $1326
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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