This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
Major Support & Resistance (pivot points – explained):
Pivot: 6573; Support: 6541, 6494, 6459; Resistance: 6623, 6658, 6705
After breaking above 6560 late last week the index has cleared the falling highs from early in the month which we had been looking for to reduce the chances of the breakout being a bull-trap. 6610 has proved a hurdle since late on Friday although there looks to be some support around 6585. Is this small sideways channel another consolidatory shift before a continued uptrend to 6700?
After all the China data of last week, renewing bullishness on both growth and perceived stimulus wriggle room for Beijing, Japan has disappointed this morning on the GDP front although weakness is being kept in check, potentially from lower summer volumes. Focus back to Europe this week with a raft of data to swing sentiment. Can we see more positive prints after the PMIs of late?
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
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
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
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
This research is produced by Accendo Markets Limited. Research produced and disseminated by Accendo Markets is classified as non-independent research, and is therefore a marketing communication. This investment research has not been prepared in accordance with legal requirements designed to promote its independence and it is not subject to the prohibition on dealing ahead of the dissemination of investment research. This research does not constitute a personal recommendation or offer to enter into a transaction or an investment, and is produced and distributed for information purposes only.
Accendo Markets considers opinions and information contained within the research to be valid when published, and gives no warranty as to the investments referred to in this material. The income from the investments referred to may go down as well as up, and investors may realise losses on investments. The past performance of a particular investment is not necessarily a guide to its future performance. Prepared by Michael van Dulken, Head of Research