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Global equities remain under pressure after Jan Fed meeting minutes revived market concern about US interest rates being hiked faster and further than expected. This is only derived from committee optimism in continued economic recovery, encouraging price inflation that will ultimately need to be tamed. However, it also suggests indifference to recent market volatility, reviving fears it might overdo policy tightening , requiring investors to re-price for quarterly hikes in 2018 at least. It also means we risk viewing things through the good news is bad news goggles again. Note also a mixed bag of UK corporate results this morning weighing on sentiment.
The UK 100 is 60pts offside (21pts ex-div), driven lower by BATS/BAE/AAL (results), HSBC/GSK/DGE (ex-div), RDSb (stronger USD, lower oil price), IMB (ex-div, BATS read-across), GLEN/RIO (AAL read-across, stronger USD, lower metals prices). Minimal buoyancy from well-received results for BARC/CNA/RSA and interest in RBS before tomorrow’s results.
The UK Index 100 is being held below breached rising lows at 7225. The DAX 30 has broken down from its narrowing pattern at 12400. Dow Jones Futures have rebounded strongly from 24600. Gold remains in a falling channel towards $1307.
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The UK Index 100 is being held below breached rising lows at 7225.
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 broken down from its narrowing pattern at 12400.
Watch levels: Bullish 12,400; Bearish 12,360
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 have rebounded strongly from 24600.
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 remains in a falling channel towards $1307.
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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