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Equities doing well this morning as Chinese PMI Manufacturing data adds to calls for and expectations of more stimulus which could see the BoJ follow suit on regional weakness. Coupled with strong PMI data from Europe and dovish rhetoric from ECB President Draghi, continental Europe (the DAX in particular) is getting a boost, maintaining the October uptrend. Does the rally have legs? Is Santa doing the rounds early again this year?
UK Index broken down from October rising lows, but bounced at 6310. DAX testing a bullish flag pattern breakout at 10900. Wall St October uptrend seen another bounce at 17600. Gold remains weak, potentially headed for $1120.
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UK 100 broken below October rising lows, but found support at 6310. Continued pause before resumption of uptrend?
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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Germany’s DAX testing a breakout from a bullish flag pattern with potential to put on another 600pts.
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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US Dow Jones futures still pushing higher with October uptrend after another bounce
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 Gold sell-off continues with potential for a full retrace to twin trendline support around $1120
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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