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Equities rather muted for the final session of the month with the Bank of Japan’s decision to hold fire on more stimulus adding to the Fed’s mid-week hawkish inaction. Markets happy enough though with the pair’s cheap money status quo into month-end, their confidence (typically optimistic) on growth and inflation and the possibility of ECB help in due course. This despite mixed corporate results and economic data with investors still bullish and hopeful of the index majors closing the year in positive territory after a volatile journey 10 months.
UK Index back down near 2-month intersecting support at 6370. DAX still held back by July falling highs at 10900. Wall St breakout pushing on towards 18100. Gold fallen back below $1150.
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UK 100 in a narrowing pattern, a breakout from which could lead to continuation of uptrend. Note however, an October rising wedge on the daily chart, a breakdown from which could result in a bearish reversal.
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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Germany’s DAX holding between 10-month intersecting trend line at 10640-10700 and July falling highs at 10800. Break-out, or break-down?
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 on with bullish flag pattern breakout with potential to complete at 18100.
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 back below 4-month intersecting trendline which could see it correct back to 3-month rising support at $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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