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European equity markets are mixed as they rejoin their North American and Asian counterparts, with the UK 100 outperforming thanks to gains from its heavily weighted materials segment while the German DAX is negative. Miners are leading the UK Index ‘s charge higher after Copper traded a fresh three and half year high on Christmas Day, however a significant contribution from Oilers, the index’s largest sector, is aiding the latest foray in record territory. Continued concern as to the impact of last week’s Catalonian election victory for pro-independence parties, as well as a Euro recovery from its Christmas Day ‘flash crash’, are both weighing on mainland European equities, while US futures are clawing back gains following a negative Boxing day session impacted by an Apple sell-off.
The UK UK Index is at fresh highs, led by Miners and Oilers, while offering minimal drag are Media and US-exposed names. Germany’s DAX sees weakness across almost all sectors, with Tech, Defensives and Banks struggling the most.
The UK Index 100 could be in the midst of a bullish flag to 7710. The DAX 30 has retreated from 13100, however is holding above the key 13000 mark. Dow Jones Futures have been unable to overcome resistance at 24785. Gold remains in an impressive uptrend, gaining traction at fresh December highs.
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The UK Index 100 could be in the midst of a bullish flag to 7710.
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 has retreated from 13100, however is holding above the key 13000 mark.
Watch levels: Bullish 13,050; Bearish 13,015
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 been unable to overcome resistance at 24785.
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 remains in an impressive uptrend, gaining traction at fresh December highs.
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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