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Equity indices are trading around breakeven, having rebounded from overnight lows in an attempt to regain the highs of yesterday. Risk appetite remains hampered by thinner holiday trading into Christmas as well as talk of a Monte dei Paschi bailout taking a whopping 3-months to complete, taking us well beyond a supposed 31 Dec deadline for shoring up Italy’s knackered banks. An official announcement still eludes markets which understandably want clarity on the issue. UK Index helped by defensives (healthcare, consumer staples) rather than risky names (Miners, Banks).
The UK 100 has broken beyond 24-hour falling highs to trade flat on the day at 7040. The DAX 30 is sideways within a tight 11435-11480 range holding 13-month highs. Dow Jones Futures have bounced from 19905 after retreating from yesterday’s second attempt at 20,000. Gold is oscillating $1131, with muted risk appetite also denting safehaven demand.
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The UK 100 has broken beyond 24-hour falling highs to trade flat on the day at 7040, however, it has already found a hurdle in 2-week support turned resistance which needs to be overcome to keep the Santa rally alive.
Watch levels: Bullish 7050, Bearish 7015
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 within a tight 11435-11480, holding 13-month highs, but progress hampered by a USD off its highs and thus EUR off its lows dampening demand for key exporter names.
Watch levels: Bullish 11485, Bearish 11430
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
Dow Jones Futures have bounced from 19905 after retreating from yesterday’s second attempt at 20,000. Bounce or breakdown in Christmas?
Watch levels: Bullish 19955, Bearish 19915
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 is oscillating $1131, with muted risk appetite also denting safehaven demand. 6-week downtrend undisturbed.
Watch levels: Bullish $1133, Bearish $1128
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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