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Equities are nursing losses into the weekend, derived from more intense anxiety about the health of Germany’s Deutsche Bank. Major equity indices are, nonetheless, off their worst levels courtesy of intervention by DBK’s CEO saying market anxiety is excessive, fine or no fine from the US DoJ. Contagion fears that were denting financial peers may have eased but of course remain ready to pounce on the next negative DBK soundbite. Efforts to rekindle OPEC production-cut excitement have already run their course, oil prices back from overnight highs hindered by fresh USD strength linked to safehaven seeking, an additional weight on reduced risk appetite within the commodity sector excl Gold.
The UK 100 sell-off has found support and bounced off post-Brexit rising support at 6810. The DAX 30 has bounced at 10200 from the floor of its shallow falling channel. Dow Jones Futures have bounced off 18100 to maintain their 2-week narrowing pattern. As expected, Gold has rebounded thanks to 2016 rising lows at $1317.
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The UK 100 ‘s sell-off has found support and bounced off post-Brexit rising support at 6810. Bounce back on the cards?
Watch levels: Bullish 6865, Bearish 6835
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 bounced at 10200 from the floor of a 6-week shallow falling channel. RSI shows positive divergence with price.
Watch levels: Bullish 10305, Bearish 10255
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 bounced off 18100 to maintain their 2-week narrowing pattern. Back to the ceiling? RSI shows positive divergence with price.
Watch levels: Bullish 18175, Bearish 18125
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
As expected, Gold has rebounded off 2016 rising lows at $1317.
Watch levels: Bullish $1328.5, Bearish $1324
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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