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Equities are nursing losses as positive comment from ECB members and expectations of hawkish ECB minutes at 12:30pm dent the UK Index and DAX. This is due to a stronger EUR pushing USD lower, and thus GBP higher, hurting their international contingents. Oil is clawing back lost ground, along with metal prices, but FX moves are driving sentiment.
The UK 100 sees losses for Oil and internationally exposed defensives (BATS, RB, ULVR, AZN, DGE) eclipsing gains for ABF (results), RBS (legal settlement imminent?) LLOY, (Bounce; BoE rate hike?), SHP (bounce) and BLT (Deutsche bank upgrade). Germany’s DAX underperforms due to heavy losses for ProSieben (JPMorgan negative on EU ad market), while Consumer & Utilities (down) and Banks (up) demonstrate sensitivity to ECB policy expectations.
The UK Index 100 is trading back close to its recent bounce level at 7300. Support? The DAX 30 is back for another test of December rising support at 12340. Bounce or breach? Dow Jones Futures have dropped to test the floor of a new falling channel 21385-21480. Gold at $1224 is primed to break from a narrowing pattern, towards either $1218 or $1230.
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Solid Green line
Possible support
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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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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
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
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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