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Equities are back at rising support this morning, as persistent USD weakness in spite of solid US macro data and tax reform benefits translate to GBP and EUR strength further fuelled by optimism about a soft Brexit, German coalition talks and hawkish ECB minutes. This is holding back both the UK UK Index and Geman DAX , more-so the latter – while US equity futures remain close to fresh overnight highs in spite of today’s Martin Luther King markets holiday.
The UK UK Index is flat as a boost from BATS/ULVR (defensives), GLEN, (weak USD, higher metals prices, extending rally) and WPP (bullish breakout) are offset by the drag from HSBC/STAN/RIO (profit taking), BP (heavyweight, oil off highs), DGE (strong GBP). Germany’s DAX underperforms with heavier losers that gains, the likes of Lufthansa, BASF and Continental countering advances by ProSieben, Adidas and E.ON
The UK Index 100 holds above 7765 January rising support. The DAX 30 trades a new 13175-13300 channel. Dow Jones Futures continue their northerly step-up, now flirting with 26000. Gold has broken above $1335 resistance.
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The UK Index 100 holds above 7765 January rising support
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 trades a new 13175-13300 channel
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 are continue their northerly step-up, now flirting with 26000.
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 broken above $1335 resistance, closing in on both September highs and 3.5yr falling highs 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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