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Equities have made a positive start to the week, despite the USD giving up even more ground on 2018 Fed rate hike uncertainty, adding to unwelcome GBP and EUR strength. Sentiment is buoyed by hopes of German grand coalition talks on the horizon, Trump talking up tax cuts after Thanksgiving break, optimism about this week’s OPEC meeting, Bitcoin flirting with $10K and news of another Royal wedding.
The UK UK Index outperforms, led higher by defensives including Healthcare (GSK upgrade, AZN drug submission) and the quartet of HSBC/PRU/ULVR/VOD, as well as AV (share buyback) and RDSB (OPEC optimism). Offering resistance are the Banks (BoE stress test tomorrow) and MCRO (broker downgrade). Germany’s DAX is up thanks to CBK (UBS looking at parts? Political optimism), Fresenius SE (rebound) and Lufthansa (new business class, EZJ broker upgrade), with minimal drag from chip-maker Infineon which has followed Asian Tech lower.
The UK Index 100 has broken above 7425. The DAX 30 is making an upside test of 13100. Dow Jones Futures have bounced back above 23550. Gold is making an upside test of recent $1295 resistance.
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The UK Index 100 has broken above 7425.
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 making an upside test of 13100
Watch levels: Bullish 13,120, Bearish 13,090
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 bounced back above 23550
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 making an upside test of recent $1295 resistance.
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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