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Equities in Europe are lower as fears of a more hawkish Fed, under the stewardship of new Chair Powell, keeps the USD strong, hindering commodities along with poor China PMIs, and reinvigorated bond yields to the detriment of bond-proxy defensive equities. Add to this mixed corporate results from a handful of majors, Brexit/Italian political uncertainty, it being month-end, and sentiment remains in check at the mid-week stage.
The UK 100 is lower due the drag from Miners (stronger USD, lower metals), STAN (bearish reversal, profit taking), BATS/RB/NG (higher bond yields) and ITV (FY results) offsetting positive contribution from RDSB (heavyweight, weaker GBP), BARC (higher interest rates, higher yields) and Tesco (high street retail in demise; Toys ‘r’ Us and Maplin bust).
The UK Index 100 has bounced off shallow rising support 7230. The DAX 30 has breached Feb rising support but bounced off 12400. Dow Jones Futures have bounced off 25350 intersecting support to revisit 25500. Gold’s bounce failed at $1321.
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The UK Index 100 has bounced off shallow rising support 7230
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 breached Feb rising support but bounced off 12400.
Watch levels: Bullish 12,480; Bearish 12,440
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 off 25350 intersecting support to revisit 25500.
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 bounce failed at $1321.
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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