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Equity indices are mixed with the UK’s UK Index benefiting from Oil price gains ahead of tomorrow’s OPEC meeting. Moody’s China downgrade has dented metals prices but the general market reaction is pretty muted on account of it having been on negative watch since last March, a rising debt/slowing growth situation well documented. Germany’s DAX underperforms as carmakers sweat under further investigations into the Diesel-gate scandal.
The UK 100 is buoyed by Healthcare (AZN positive news this week, stronger USD), BAE (US budget military spend, BAB results), RDSb (oil, OPEC), Banks (positive momentum, US rate hike looming) VOD (M&A). Hindrance lies with Miners (China downgrade, USD bounce), KGF (poor Q1), CRH (US budget uncertainty about stimulus).
The UK Index 100 is testing falling resistance at 7510; bullish flag? The DAX 30 is edging back to rising support at 12620. Dow Jones Futures at 20935 continue their step up recovery from recent lows. Gold has found some support at $1250 despite the USD bounce.
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The UK Index 100 is testing falling resistance at 7510; bullish flag back to record highs?
Watch levels: Bullish 7515, Bearish 7505
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 edging back to rising support at 12620 but remains in a rising channel.
Watch levels: Bullish 12650, Bearish 12620
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 at 20935 continue their step up recovery from recent lows.
Watch levels: Bullish 20960; Bearish 20900
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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Having breached rising support, Gold has found some support at $1250 despite the USD bounce.
Watch levels: Bullish $1254; Bearish $1251.5
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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