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Equity markets are positive mid-week despite looming event-risk from tomorrow’s UK Election, ECB update and hotly awaited testimony from ex-FBI head Comey. Helping sentiment is Banco Popular falling into the arms of Santander, removing a weak link from amongst Europe’s banks. A USD bounce, whilst a hindrance for commodities, is nonetheless proving a fillip for European companies selling internationally via helpful pressure on both the EUR and GBP.
The UK’s UK 100 is being helped back north by a weak GBP as well as gains for Oil, Financials and Copper miners overcoming limited hindrance from defensives (especially healthcare) as a risk-on mood returns. Germany’s DAX welcomes the weaker EUR and strength among Utilities.
The UK Index 100 has bounced off 7505 to keep its 6-week uptrend alive. The DAX 30 has bounced off 12650 rising support, but already found intersecting resistance at 12750. Dow Jones Futures trade a tight 21135-21165 range, under pressure since Friday. Gold has dropped back to $1290 after its bullish breakout struggled to overcome April highs.
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The UK Index 100 has bounced off 7505 to keep its 6-week uptrend alive.
Watch levels: Bullish 7555, Bearish 7510
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 has bounced off 12650 rising support but already found intersecting resistance at 12750.
Watch levels: Bullish 12750, Bearish 12720
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 trade a tight 21135-21165 range, under pressure since Friday.
Watch levels: Bullish 21,170; Bearish 21,135
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 dropped back to $1290 after its bullish breakout struggled to overcome April’s $1296 highs.
Watch levels: Bullish $1291; Bearish $1288
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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