Heading into NFP, the outlook for equities continues to improve. The recent outperformance of the DAX and CAC40 against the S&P 500 has been impressive and both these markets appear to be on the verge of completing basing patterns.
We have highlighted resistance to overcome in these and also in some of the commodity markets such as aluminium. End of week closes around current levels or higher would also suggest further stability and the potential for a further unwind of risk averse moves seen in September.
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BARCLAYS CAPITAL
TECHNICAL RESEARCH