This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
Sentiment towards risk appetite is traditionally muted in the run-up to this afternoon’s monthly US jobs report. While the Non-Farm Payrolls print and Unemployment rate are oft considered barometers for the US economy (adding jobs? More people working?) any big move in the Wages Growth metric may be more significant, potentially altering expectations on inflationary pressure and the pace of Fed rates hikes this year. UK Index being held back by a stronger GBP hurting defensives and the Oil majors despite Crude prices recovering, offsetting welcome assistance from big Financials.
The UK 100 remains in the middle of its 7180-7210 shallow rising channel. The DAX 30 is trading around 11560 within a narrowing range. Bullish consolidation before a breakout? Dow Jones Futures are still easing back from 19900, but could be forming a bullish flag back up towards 20,000. Gold has bounced off 2017 intersecting support at $1174 and overcome the overnight downtrend. Another leg higher helped by a USD under pressure?
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The UK 100 remains in the middle of its 7180-7210 shallow rising channel, up off its lows bit with falling highs since yesterday’s fresh all-time high.
Watch levels: Bullish 7205, Bearish 7175
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 trading around 11560 within a narrowing range. Bullish consolidation via pennant or flag before another breakout?
Watch levels: Bullish 11585, Bearish 11540
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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Dow Jones Futures are still easing back from 19900, but could be forming a bullish flag back up towards 20,000
Watch levels: Bullish 19895, Bearish 19865
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 has bounced off 2017 intersecting support at $1174 and overcome the overnight downtrend. Another leg higher helped by a USD under pressure?
Watch levels: Bullish $1179, Bearish $1177
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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