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Equities are mixed at the mid-week point, after US indices made fresh highs and Asia post posted gains overnight. The UK UK Index has extended its bullish reversal ahead of the UK Budgets, although Germany’s DAX is back testing yesterday’s breakout for support and Dow futures are sideways into the US Thanksgiving holiday, pausing after fresh highs.
The UK Index is being driven higher by HSBC & STAN (Asia optimism), RB (JPM upgrade), RDSB/BP (US oil inventories), BT, SHP and RIO/BLT (metals higher). Offering resistance are BATS (200-day MA resistance, UK budget duty rise?) PRU/AV (profit taking), AZN and ABF. Germany’s DAX underperforms due to EUR strength vs USD, a headwind to two-thirds of the index, with out-sized gains for RWE (UBS upgrade) offset by general weakness and standout losses for Adidas
The UK Index 100 has extended its bullish reversal to test 7430. The DAX 30 is back for a test of yesterday’s 13100 breakout. Dow Jones Futures have paused around 23600, but could we see another 200pt rally? Gold is testing $1285 resistance on USD weakness more than safe-haven seeking.
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The UK Index 100 has extended its bullish reversal to test 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.
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The DAX 30 is back for a test of yesterday’s 13100 breakout. Consolidation of breakout before continuing with bullish double bottom reversal.
Watch levels: Bullish 13,150, Bearish 13,100
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 paused around 23600, after completing both of yesterday’s bullish patterns, but could we see another 200pt rally via a bullish pennant?
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 testing $1285 resistance on USD weakness more than safe-haven seeking.
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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