Major European indices are trading mostly higher and the British pound gained as the Brexit trade deal seemed almost at hand and an official announcement is expected anytime on Thursday. British Prime Minister Boris Johnson held a late-night conference call with his Cabinet of senior ministers, and negotiators in Brussels pored over reams of legal trade texts, sources said. Just a week before Britain's final exit from the European Union an agreement has been reached on fair competition and fishing rights and negotiators are still working on the wording. The DAX 30 and the FTSE MIB are closed for Christmas Eve and the trading session on Thursday will be shorter. US futures are also trading slightly higher however light trading is expected during the session as markets will close early at 1:00 PM NY time for the Christmas holidays.
US100 - Looking at the H4 interval, one can see that the index has been trading in an upward trend since November, however the market has been consolidating in recent days. If sellers manage to break below the lower limit of the consolidation range which coincides with the lower limit of the upward channel, then declines could deepen towards support at 12,400pts. On the other hand, break higher may pave the way towards all time high at 12,792 pts will be left open. Source: xStation5
