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DAX fills the gap

As the morning has progressed the European stock markets have been making headway and that comes set against some gains for the US stock market futures too. So, now the German DAX has filled that price gap I mentioned here earlier this morning. It was actually at 16,884 and not 16,888. The index is now above the low seen yesterday, but now this technical requirement has been fulfilled, it remains to be seen how far it might extend on the topside. There is no bias on that here right now and of course much will depend on how the US markets fare for the first trading day of the new month. That could be determined by the US ISM release at 3pm and as such that is the next big event for the markets today, now that the Bank of England policy decision is out of the way. Of course we have to see what emerges in the BOE press conference shortly too (at 12.30pm GMT). The DAX is just now trading at 16,893 
 

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