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Equities are making a poor start to the week, dented by a nasty cocktail comprising; 1) last week’s dovish central bank inspired rally having run its course; 2) jitters about tonight’s Trump v Clinton debate; 3) waning faith in this week’s Algiers Oil meeting yielding anything whatsoever; 4) German Chancellor Merkel saying no backstop for troubled Deutsche Bank (trading all-time lows), increasing sector contagion risk; 5) City fears of a hard Brexit. Risk assets like Banks, Housebuilders and Miners bearing the brunt of it this morning. Geopolitics appears to dominate.
The UK 100 ‘s 80pt sell-off has found support around 6820. Bounce or breach? The DAX 30 has dropped back to test the 10450 mid-point of its Jul-Sept range. Dow Jones Futures are testing mid-September rising support at 18150, within a larger narrowing pattern into 18250. Gold has found support at $1333 after turning back from Summer falling highs at $1345.
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The UK 100 ‘s 80pts sell-off has found support around 6820. Bounce or breach? RSI oversold
Watch levels: Bullish 6810, Bearish 6845
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 dropped back to test the 10450 mid-point of its Jul-Sept range.
Watch levels: Bullish 10500, Bearish 10430
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 are testing mid-September rising support at 18150, within a larger narrowing pattern into 18250. Will tonight’s debate and Trump dictate the next move?
Watch levels: Bullish 18200, 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 has found support at $1333 after turning back from Summer falling highs at $1345. RSI overbought
Watch levels: Bullish $1338, Bearish $1334.5
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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