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Equity markets are making a red start to the end of the month as investors digest last week’s macro data and shift gaze towards this week’s Fed, BoE and BoJ policy updates. Add to this another twist and turn before next week’s US election and rising objection to OPEC production cuts and sentiment is hampered despite getting through the bulk of earnings season relatively unscathed.
The UK 100 is holding in the upper half of a 6900-7000 narrowing range. The DAX 30 remains in an October uptrend at 10650 helped by a duo of support at 10600. Weaker EUR helping. Dow Jones Futures remain in a tight 18100-18250 range-trader’s dream. Gold’s $1265-1290 rising channel remains unabated even if USD strength is hindering it as we speak.
The UK 100 is holding in the upper half of a 6900-7000 narrowing range. Rising lows from last week to lead to breakout? Or longer-term downtrend to win?
Watch levels: Bullish 7020, Bearish 6935
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 remains in an October uptrend at 10650 helped by a duo of support at 10600. Weaker EUR helping. Bounce on the cards via bullish falling wedge?
Watch levels: Bullish 10705, Bearish 10615
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 remain in a tight 18100-18250 range-trader’s dream before making its next big move higher or lower. Fed update or next week’s election the next catalyst?
Watch levels: Bullish 18230, Bearish 18150
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’s $1265-1290 rising channel remains unabated even if USD strength is hindering it as we speak. Note the 200-day MA at $1288has already proved a hurdle.
Watch levels: Bullish $1276, Bearish $1269
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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