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Equity markets are looking north again after bouncing from 4-day lows thanks to the latest Fed minutes being taken as confirmation that the US central bank is nowhere near being able to raise rates again this year; maybe not until well into 2017. And markets like the idea of lower rates for longer. While the Fed hinted it was worried about the US Jobs market after that bad May print, it also stated concerns about the consequences of a UK vote to leave the EU. And with that result playing out and BoE Governor Carney pledging more stimulus this summer, markets are seeing this as putting a ceiling on monetary policy for a good while longer. All good for what had become rather depressed risk appetite, with extra help coming from a welcome oil price bounce and GBP/USD back above 1.30.
The UK 100 has bounced 160pts to test yesterday’s 6580 highs. Can it breakout to revisit 6625? The DAX30 has found rising support to bounce 200pts and re-visit 9500. Wall Street/Dow Jones futures have made it back to 2-week falling highs resistance at 17960, but have yet to make a test. Can they breakout to 18000 or better? Gold is back sub-$1365 is being hampered by falling resistance since yesterday’s $fresh 2yr highs at $1375. Back to yesterday’s low of $1360?
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The UK 100 has bounced 160pts to test yesterday’s 6580 highs. Can it breakout to revisit 6625?
Watch levels: Bullish 6570, Bearish 6545
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
The DAX30 has found rising support and bounced 200pts to re-visit 9500. Does the recovery have legs to 9800?
Watch levels: Bullish 9485, Bearish 9435
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 made it back to 2-week falling highs resistance at 17960, but have yet to make a test. Can they breakout to 18000 or better?
Watch levels: Bullish 17945, Bearish 17915
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 is back sub-$1365 is being hampered by falling resistance since yesterday’s $fresh 2yr highs at $1375. Back to yesterday’s low of $1360?
Watch levels: Bullish $1369, Bearish $1363
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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