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Iraq is still high on the global markets agenda with the violence increasing and foreign intervention seemingly inevitable. This has caused crude to rise to nine month highs helping the oil and gas heavyweights push the UK Index higher. Interest rates have been attracting a lot of attention across the pond too with Janet Yellen signalling last night that an Interest rate rise will not be rushed.
The UK UK Index is looking to regain last weeks highs of 6879 as concerns over a sooner than anticipated Interest rate rise have cooled and oil and gas majors helped push the UK Index higher after crude prices hit a nine-month high due to tensions in Iraq.
Germany’s DAX is targeting all-time highs again, being only 30pts away from 10036 that we saw last week. The first hurdle that needs clearing is 10022. Should we see a break of this level then we could then be looking at new all-time highs on the DAX. Should the DAX fail to achieve a break of 10022 then support may be seen at 9939.
The US Dow Jones continued to push forward overnight after comments from fed chair Janet Yellen eased fears of a sooner than expected rate rise. The comments helped the S&P 500 to record highs and helped the Dow push back up towards its own all-times highs of last week. Having said that, 16900 has proved a bit of a stumbling block this morning with the Dow struggling to break above. Should we see a convinicing break of 16900 then the Dow could see new all-times highs too.
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Solid Green line
Possible support
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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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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
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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