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Equities are posting solid gains driven principally by corporate earnings, but US Dollar weakness also continuing to offer more help for risk appetite than a strong GBP (or EUR) is proving a hindrance. As the White House pantomime continues, tax reform could be within reach after a barren first 7 months. Could this give a fillip to bullishness?
The UK UK 100 is being driven higher by BP, RR & ITRK (results today), HSBC (results yesterday, rallied in HK overnight), RDSB & BARC (BP & HSBC read across) and BATS (rebound from Friday’s FDA news). Offering limited drag are SHP & AZN, ULVR as defensives are shunned and FRES (results today, Gold & Silver prices lower). Germany’s DAX underperforms despite EUR strength, lead by a mix of risk-oriented (banks, industry) and defensive names (utilities).
The UK Index 100 rally finds resistance at 7440 2-week falling highs. The DAX 30 has made another bounce from 12100. Dow Jones Futures remain above yesterday’s 22000 breakout to fresh record highs. Gold has found support at $1265.
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The UK Index 100 rally has found resistance at 7440 2-week falling highs
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 made another bounce from 12100. Bullish double-bottom reversal?
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 remain above yesterday’s 22000 breakout to fresh record highs. RSI holding in upper half = bullish.
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 has found support at $1265.
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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