This week you asked me for a refresher on what I wrote a month ago: Support. A reminder of how to evaluate shares which could be due a bounce is always helpful. Although I know that what you’re really after is another trio of live examples, as fruitful as the last batch. On top of our…
The UK 100 has pulled back 1.7% from fresh multi-month highs of 7530, its best since early October. Declines, however, were stemmed Thursday/Friday by shallow April rising support at 7400. This offers potential for the index to bottom out further next week. Perhaps until it tests the post-Christmas rising support trendline itself at 7385. That…
On Tuesday the US flexed its muscles, withdrawing Iranian sanctions waivers on oil exports. In a bid to strangle the Iranian economy by blocking its main export, the US pushed oil prices higher. Brent Crude Oil hit fresh 2019 and multi-month highs of $75/barrel. We can now expect China/India/Russia to face reprisals if they get caught ignoring…
Over the last few weeks I have written about Banks, Ranges and Results. All three have been popular topics for trading clients. So how about a write-up combing all three. The UK Index Banks have begun to report their results for the first quarter of 2019, and, low and behold, several of them are trading…
The UK 100 index continues to consolidate 7437-7480, pausing to digest the latest March/April leg higher within a pre-existing 4-month up-channel. After last week’s Brexit delay boost, the index has failed to benefit from any additional GBP weakness. Results season has also yet to provide any big name influencers to help drive the index above the…
Brexit has been a pain for many industries throughout these past 3 years. House builders and buyers haven’t been spared. However, it seems as though the industry has been making a killing of late as Brexit fatigue sets in. And with the UK’s EU exit being delayed until October 31st, the housing market has started…