This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
Equities are offside, but remain remarkably calm after Trump’s overnight decision to respond to Syrian chemical attacks with targeted US airstrikes. No stranger to conflict, this is nonetheless military, not politics or twitter. Risk assets are understandably bid on the addition of a new dimension to geopolitical risk, but equities are far from suggesting panic just yet. Investors are perhaps taking solace from a willingness to intervene suggesting he’s not so inward looking.
Weak global cues and selling pressure in healthcare, banking and consumer durables are keeping indices negative, but the UK’s UK 100 is well off its lows, showing appetite to push back north thanks to GBP weakness. Lower metal prices are hurting Miners but this is offset by Oil majors buoyed by an oil price rally fuelled by Middle East concerns. Germany’s DAX is underperforming, however, failing to derive any of its usual benefit from a weak EUR.
The UK Index 100 is building support around 7295 showing appetite to extend its rebound from overnight lows. The DAX 30 is holding above 12150 but still in an April downtrend towards support at 12100. Dow Jones Futures have just turned back from 3-day falling highs resistance at 20660. Gold at $1265 is off its best levels, but holding a $1260 breakout.
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The UK Index 100 is building support around 7295 showing appetite to extend its rebound from overnight lows.
Watch levels: Bullish 7315, Bearish 7290
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 holding above 12150 but still in an April downtrend towards support at 12100
Watch levels: Bullish 12180, Bearish 12155
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 have just turned back from 3-day falling highs resistance at 20660.
Watch levels: Bullish 20,665, Bearish 20,615
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 at $1265 is off its best levels, but holding its $1260 breakout. Potential $15 bullish triangle on shorter-term charts
Watch levels: Bullish $1266, Bearish $1253
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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