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Equity markets are mixed, although with a slightly negative bias, suggesting apprehension and understandable indecision before the US election result. Yesterday’s rally suggests investors more comfortable with a Clinton win; the prior sell-off suggests nerves about Trump. Polls remain tight (imagine if it was a tie?) while a Brexit precedent is still fresh. The official result is sure to move markets tomorrow morning, however, equity index futures and safehavens like Gold will almost certainly offer plentiful trading opportunities all night long as each and every update of the vote count sways expectations and market sentiment. Whatever happens, expectations are for a Trump dump to eclipse any Hilla-relief rally.
The UK 100 is hovering around 6800, holding above 6790 but struggling to better 6820. The DAX 30 has paused 10400-10480 after yesterday’s bounce. Dow Jones Futures have found resistance at 18270 August falling highs. Gold has delivered a mild $5 bounce to $1285 as Clinton relief gives way to fresh Trump fears.
After its Hilli-rally, the UK 100 is hovering around 6800 ahead of the US election result, holding above 6790 but struggling to better 6820. Which way will it break? What will be the driver?
Watch levels: Bullish 6825, Bearish 6785
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 paused 10430-10480 after its Monday bounce. Which way will it break next? Will the election be the driver or could it be something else?
Watch levels: Bullish 10490, Bearish 10390
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 found resistance at 18270 August falling highs. RSI was technically overbought. What’s next, breakout or retreat?
Watch levels: Bullish 18300, Bearish 18185
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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Gold has delivered a mild $5 bounce to $1285 as Clinton relief gives way to fresh Trump fears. Will the safehaven fly or flag as we move towards the election result? RSI not yet oversold. Clinton win and bearish flag to $1260, or Trump win and back to $1300+?
Watch levels: Bullish $1286, Bearish $1277
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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