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Equities are mostly positive this morning as Eurozone PMI data impresses on an unusually quiet day for earnings reporting. A solid rebound in PMI figures to 10-month highs means Germany’s DAX index is outperforming London and Wall Street, with macro data thin on the ground in the UK and USA. Strong performances from Miners and Financials are keeping M&A pursuing British American Tobacco from inflicting losses on the UK Index while Wall Street will once again wait for pre-market earnings to be released before showing any major movement.
The UK 100 is currently flat, having pared early gains, with one week rising lows support preventing the index from falling into the red. Can it bounce to 7070 and beyond? The DAX 30 has broken out of 2-month resistance, rising to over 10800. With a potential short-term bullish flag pattern forming, can it go on to challenge 2016 highs of 10890? Dow Jones Futures also performing strongly this morning, currently challenging 1-month falling highs resistance at 18250. Is a break-out on the cards? Gold finding itself (once again) in tight $1262.50-$1268 narrowing pattern trading channel following breakdown of support on Thursday last week.
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The UK 100 is currently flat, having pared early gains, with one week rising lows support preventing the index from falling into the red. Bounce to 7070 and beyond?
Watch levels: Bullish 7055, Bearish 7010
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 out of 2-month resistance, rising to over 10800. With a potential short-term bullish flag pattern forming, can it go on to challenge 2016 highs of 10890?
Watch levels: Bullish 10740, Bearish 10670
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 also performing strongly this morning, currently challenging 1-month falling highs resistance at 18250. Is a break-out on the cards?
Watch levels: Bullish 18255, Bearish 18140
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 finding itself in tight $1262.50-$1268 narrowing pattern trading channel following breakdown of support on Thursday last week.
Watch levels: Bullish $1268, Bearish $1259
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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