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The mining sector is having a positive affect on the UK Index 100 this morning after Copper prices hit a four-month high yesterday and gold is also trading around levels not seen since March. This is helping the heavily miners weighted UK Index into the blue in early trading. Overnight saw Chinese PMI data rise to a six month high suggesting the economy is regaining strength which sent Asian stocks to a six-year high. A raft of PMI and unemployment data this morning as well as reports of Ukraine beginning a new wave of attack on pro-Russian rebels could add some volatility to the markets.
The UK UK Index has found itself trading in a 60 point range over the past 5 trading sessions and this morning hasn’t seen much change with a fairly lackluster start to the morning. Mining stocks are pushing the UK Index 100 higher this morning but a raft of macro data due for release this morning could see markets react. A break above 6776 could see an attempt to regain last weeks highs of 6840.
Germany’s DAX is finding it difficult this morning with it trading in slightly negative territory, however, as with the UK Index 100 a raft of macro data including German PMI and unemployment data could help with direction. The DAX is trading in a range of 130 points over the last week with little out so far this morning to give a sign that that will change any time soon.
The US Dow Jones futures are pointing to a positive open today in what is a short week across the pond. But as with the European exchanges the Dow Jones is also struggling to break out of the 125 point range that we have seen it trading in over the past 5 sessions. Manufacturing data out this afternoon could help or hinder the Dow depending on the number released.
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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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