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Equity indices are nursing more losses as lower oil prices weigh along with Healthcare and the EU gives a muted response to Theresa May’s ‘fair and generous’ Brexit offer to EU expats. A stronger GBP is also denting sentiment after outgoing BoE voice Forbes added to Haldane’s mid-week hawkishness, while a USD pullback drags on the DAX by way of a stronger EUR.
The UK’s UK Index is being weighed down by Oil majors (weak crude), Healthcare (threat to Trump healthcare bill, less deregulation?), DGE (strong GBP, acquisition) and ABF (strong GBP, weak Sugar). Strength is limited to BATS (defensive), FRES (higher silver/gold), BT (bargain hunting) and ITV & CNA (broker upgrades).
The UK Index 100 is holding rising support at 7400. The DAX 30 is testing support at 12720. Dow Jones Futures have breached support at 21390. Gold has broken above intersecting resistance $1255.
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The UK Index 100 is holding rising support at 7400, but still struggling under the weight of falling high highs both at 7425 and 7440. Hourly RSI still bearish.
Watch levels: Bullish 7430, Bearish 7400
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 testing support at 12720.
Watch levels: Bullish 12725, Bearish 12695
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 breached support at 21390 after breaking below the major uptrend yesterday. This extends the downtrend from Mon/Tues highs.
Watch levels: Bullish 21,390; Bearish 21,360
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 broken above intersecting resistance $1255.
Watch levels: Bullish $1258; Bearish $1255
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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