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Equity are back pointing south again as markets struggle to digest Friday’s Brexit vote and what it means for the UK outlook and that of London-listed equities and the pound. Weekend political upheaval from both sides and a leadership vacuum has done little to calm investor nerves about the near term future, with the most sensitive stocks to the Leave vote – banks, property, airlines – getting another drubbing which has in some cases wiped out the recoveries seen on Friday from knee-jerk Brexit lows. We did ask Friday if it was a dead-cat bounce.
The UK 100 is back from a teasing bounce above 6100, already testing 6050 for support. The DAX30 has bounced from 9300 after a retrace from 9700 recovery highs. Wall Street/Dow Jones futures bounced from fresh post-Brexit lows of 17200 overnight but remain dogged by falling highs at 17300. Gold remains sideways around $1325, held close to post-Brexit highs as safe havens remain bid on Brexit uncertainty.
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The UK 100 has begun to retrace its overnight bounce from 5900 following a teasing test of 6100. Can 6050 hold up?
Watch levels: Bullish 6075, Bearish 6035
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 DAX30 has bounced from 9300 after a retrace from 9700 recovery highs. Shallow bullish ascending triangle?
Watch levels: Bullish 9475, Bearish 9390
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
Wall Street/Dow Jones futures have bounced from fresh post-Brexit lows of 17200 overnight but remain dogged by falling highs at 17300.
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 remains sideways around $1325, held close to post-Brexit highs as safe havens remain bid on Brexit uncertainty.
Watch levels: Bullish $1329, Bearish $1322
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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