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Equity indices are being buoyed by the Fed’s decision to delay its next interest rate rise, even if it is trying hard to prep us for the possibility of another unwelcome early Christmas present, like last year. Nonetheless, downgraded growth projections and it expecting fewer rate rises in 2017 suggests uncertainty within the ranks. Investors have latched onto this, asking whether a rate hike will be delivered in 2016 at all, happy at the prospect of lower rates for longer, and globally. Commodities are benefiting from a resulting weaker USD with Miners topping the UK index while Banks digest the prospect of lower rates for longer, hurting profit margins.
The UK 100 has broken above yesterday’s 6880 highs which open the door to September highs of 6930. The DAX 30 has broken above 10550, despite a stronger EUR, which means a return to 10750 is possible. Dow Jones Futures are pushing on from a bullish flag breakout that could complete at 18500. Gold has broken above $1330 with potential for further gains to its $1350 3-month shallow falling ceiling.
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The UK 100 has broken above yesterday’s 6880 highs which open the door to September highs of 6930. Rising channel intact.
Watch levels: Bullish 6890, Bearish 6875
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 above 10550 to test 10600, despite a stronger EUR, which means a return to 10750 is possible.
Watch levels: Bullish 10610, Bearish 10570
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 pushing on from a bullish flag breakout that could complete at 18500
Watch levels: Bullish 18360, Bearish 18290
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 above $1330 with potential for further gains to its $1350 3-month shallow falling ceiling. Bullish flag in formation?
Watch levels: Bullish $1335, Bearish $1329
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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