This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
Equities are understandably quiet this morning, Thanksgiving meaning a lack of stateside lead overnight and a shortened half day on Wall St today. Bookending the UK’s UK Index in terms of drivers are a host of defensives like BATS, DGE, AZN, ULVR and IMB helping offset weakness in RDSb, BP, GLEN and LLOY as a weaker oil price derived from scepticism about an OPEC production cut weighs on the USD-denominated commodity space in spite of a weaker USD. Investors are shunning risk into the weekend, preferring the safer names that have underperformed amid the Trump-inspired rally.
The UK 100 tried higher briefly this morning but is back in its 6815-6835 overnight channel. The DAX 30 is sideways 10650-10720, waiting for a break either north or south. Dow Jones Futures eased back from fresh all-time highs last night, only to find support and bounce from 19120. Gold’s bounce has already been checked by a duo to trendlines at $1190.
The UK 100 tried higher briefly this morning but is back in its 6815-6835 overnight channel. 2-week rising channel intact.
Watch levels: Bullish 6850, Bearish 6810
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 DAX 30 is sideways 10650-10720, waiting for a break either north or south.
Watch levels: Bullish 10710, Bearish 10675
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
The Dow Jones Futures eased back from fresh all-time highs last night, only to find support and bounce from 19120.
Watch levels: Bullish 19150, Bearish 19115
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
Gold bounce has already been checked by a duo of trendlines at $1190. Long lower tails suggest appetite to climb, but $1200 represents a major hurdle that would likely require significant risk aversion in markets to be cleared.
Watch levels: Bullish $1195, Bearish $1175
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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