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Equities are nicely positive at half-time with all three of our indices in the midst of potentially attractive bullish breakouts that could open the door for a return to recent record highs. The UK Index is helped by an oil price rebound, gains for healthcare (AZN & GSK bounces from 2017 rising support), financials (hawkish hopes) and miners (buoyant commodity prices), as well as a GBP near July lows, flattering internationals, after dovish BoE comment. The Dax outperforms with a boost from EUR/USD coming off its highs, gains for Adidas (Amazon prime), Infineon, Autos and Utilities (broker technicals). The Dow has overcome July falling highs.
The UK Index 100 has broken out to test 7400 with potential for a bullish triple bottom reversal to 7480. The DAX 30 has broken back above 12500 to overcome twin resistance. Dow Jones Futures have broken out from a bullish pennant that could usher the index to fresh record highs. Gold is off its worst, levels, but still in a strong downtrend.
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The UK Index 100 is testing 7400, thanks to a bullish flag breakout, with potential for a bullish triple bottom reversal back to 7480. Support at 7390 bodes well so far
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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The DAX 30 has broken back above 12500 to overcome twin resistance. Upside to 12950?
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 broken out from a bullish pennant that could usher the index to fresh record highs.
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 is off its worst levels, but still hampered by a strong downtrend RSI breakout stalled at 50 breakeven
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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