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European equities are firmly in the red this morning, with continental stocks underperforming their London listed rivals. This derives from much the same drivers as yesterday, with uncertainty regarding the outcome of both this weekend’s Italian election, and of course Brexit, but exacerbated by further concerns about too-aggressive Fed monetary policy tightening, risking the economic recovery, after weaker than expected US GDP and housing data yesterday.
The UK 100 is dragged lower by Miners (stronger USD, lower metals), WPP (results, poor outlook), RDSB (stronger USD, oil lower), ULVR/BATS (higher bond yields, bond-proxies shunned), BARC (ex-div), RBS (breached 200-day MA), with limited help from SHP (bullish breakout), EVR/CRH (results, good outlook) and BRBY (new CCO).
The UK Index 100 is back below 7200, struggling after last night’s 7230 breakdown. The DAX 30 has broken below 12300 to extend yesterday’s bearish reversal. Dow Jones Futures have found support at 24925. Gold nears major $1308 support.
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The UK Index 100 is back below 7200 struggling after last night’s 7230 breakdown
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 broken below 12300 to extend yesterday’s bearish reversal
Watch levels: Bullish 12,275; Bearish 12,230
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 have found support at 24925.
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 nears major $1308 support, hampered by USD strength.
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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