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Equities are positive despite event-risk from today’s UK Election, ECB policy update and Senate testimony from ex-FBI head Comey. The UK’s UK Index underperforms on persistent GBP strength amid expectations of a convincing Tory election win. Germany’s DAX outperforms after the EUR fell on a combination of USD strength (Comey not as explosive?) and belief that the ECB remains in a policy normalisation quandary; growth improving, inflation still struggling.
The UK’s UK 100 is flat as assistance from Banks (UK election), oil majors (crude off its lows), healthcare (bounce after yesterday’s weakness) offsets ex-divs (VOD, WPP) and losses for defensives including DGE, IMB, RB and ULVR. Germany’s DAX is up thanks to gains for Financials, Utilities, airline Lufthansa and industrial Thyssenkrupp.
The UK Index 100 is flat at 7475, potentially waiting to begin a bearish flag south. The DAX 30 continues to test 12750 1-month intersecting resistance. Dow Jones Futures are making a bullish test of 21200. Gold has made another bounce off $1283.
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The UK Index 100 is flat at 7475, potentially waiting to begin the second leg of a bearish flag south.
Watch levels: Bullish 7490, Bearish 7460
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 continues to test 12750 1-month intersecting resistance.
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 are making a bullish test of 21200 after yesterday’s 21180 breakout.
Watch levels: Bullish 21,210; Bearish 21,180
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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Gold has made another bounce off $1283.
Watch levels: Bullish $1289; Bearish $1283
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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