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Equities remain mixed with the catalyst for further upside lacking. This as geopolitics still weigh, most notably in Spain, where the Catalonian President is set to give a press conference about the region’s claim for independence, but also with continued North Korean rumblings. Perhaps a decent earnings season could be the necessary catapult for another leg higher. US banking giants kick of Q3 proceedings this Thursday. Weak USD weighing in Europe via GBP & EUR strength.
The UK UK 100 is higher with positive contributions from HSBC (broker comment), a group of defensives (RB/DGE/BATS/ULVR), banks (broker upgrades; US peers reporting; LLOY to hike div?), BP (higher oil price). Holding it back are a stronger GBP (due to USD weakness) and falls for RDSb, RIO, GSK, NG and RR (BAE job cuts read across).
The Germany DAX is just negative amid EUR strength and losses for Fresenius Medical, ThyssenKrupp, Autos (VW downgrade) and Utilities (RWE, E.ON) exceeding gains for Henkel, Linde and Deutsche Post (autonomous delivery).
The UK Index 100 holds above 7500 awaiting a catalyst higher or lower. The DAX 30 have bounced from September rising lows at 12935 still within touching distance of its 13000 record. Dow Jones Futures remain on track to complete a bullish flag at 22900. Gold has extended its rebound for a bullish test of $1290.
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The UK Index 100 holds above 7500 awaiting a catalyst higher or lower
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 have bounced from September rising lows at 12935 still within touching distance of its 13000 record. Another pause like mid-September?
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 on track to complete a a bullish flag at 22900.
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 extended its rebound for a bullish test of $1290. Breakout?
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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