This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
Equities are nicely higher this morning, thanks to strong results, oil’s rebound and a copper price surge all buoying sentiment ahead of tomorrow’s Fed’s policy update. Strong German IFO data is also likely helping along with hopes of a flurry of solid earnings reports from the other side of the Atlantic.
The UK UK 100 outperforms on strength from Oil majors (oil price rally), Miners (weak USD, metals & oil higher) and Financials (Aussie banks up; pre-results excitement; steeper yield curve?) easily outweighing weakness among select defensives BATS (strong GBP), RB (digesting yesterday’s results), MRW (Kantar market share data) and CRDA (results). Germany’s DAX is being led higher by financials tempered only by persistent mild weakness among Autos.
The UK Index 100 has broken back above 7430. The DAX 30 looks to have begun a 100pt bullish inverse head & shoulders reversal pattern. Dow Jones Futures have broken above 21580. Gold is holding in a rising channel at $1251
Click below to expand sections for more detailed analysis
The UK Index 100 has broken back above 7430.
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
The DAX 30 looks to have begun a 100pt bullish inverse head & shoulders reversal pattern
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
Dow Jones Futures have broken above 21580.
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 is holding in a rising channel at $1251
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
This research is produced by Accendo Markets Limited. Research produced and disseminated by Accendo Markets is classified as non-independent research, and is therefore a marketing communication. This investment research has not been prepared in accordance with legal requirements designed to promote its independence and it is not subject to the prohibition on dealing ahead of the dissemination of investment research. This research does not constitute a personal recommendation or offer to enter into a transaction or an investment, and is produced and distributed for information purposes only.
Accendo Markets considers opinions and information contained within the research to be valid when published, and gives no warranty as to the investments referred to in this material. The income from the investments referred to may go down as well as up, and investors may realise losses on investments. The past performance of a particular investment is not necessarily a guide to its future performance. Prepared by Michael van Dulken, Head of Research