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Equities are positive this morning courtesy of the US Dollar finding its footing overnight to deliver helpful GBP and EUR weakness that reverses some of yesterday’s FX inspired hindrance. Results season may well be in full flow, on both sides of the Atlantic, but politics remains the major driver. Trump has signed the order to withdraw from TPP and the UK Government has received an unfavourable Supreme Court ruling on the triggering Article 50. The fact PM May doesn’t have to consult with devolved parliaments may simplify the process (they can’t veto) but clean sailing is far from a given.
UK UK 100 up as Miners, Oil, Tobacco, Banks and Healthcare overcome BT’s profit warning plunge. Germany’s DAX is up as Industrials, Financials and Autos win out over Airlines, Personal Goods and Utilities. The US Dow Jones is flat.
The UK 100 has broken beyond its week-long downtrend but is struggling to overcome 7180. The DAX 30 is stuck 11540-11580 in a narrowing pattern. Will it break higher or lower? Dow Jones Futures continue to test 1-week falling highs at 19820. Breakout or fall-back? Gold has found support just above the intersecting trendline at $1210. Bounce to $1220?
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The UK 100 has broken beyond its week-long downtrend but is struggling to overcome 7180. Can it break higher. GBP/USD back to flat on the day after Supreme Court ruling.
Watch levels: Bullish 7180, Bearish 7160
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 stuck 11540-11580 in a narrowing pattern. Will it break higher or lower?
Watch levels: Bullish 11585, Bearish 11560
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 continue to test 1-week falling highs at 19820. Breakout or fall-back?
Watch levels: Bullish 19830, Bearish 19780
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 again sold back from $1220 with support from an intersecting trendline at $1210. Bounce?
Watch levels: Bullish $1215, Bearish $1211
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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