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Equities start the month mixed with investors digesting a deluge of mixed corporate results from both sides of the Atlantic, a new Fed chapter, mixed global PMI Manufacturing prints, a USD still under pressure to keep GBP and EUR strong and another uptick in bond yields. A flat UK Index compares to a DAX/Dow Jones up/down by 0.2%, respectively.
The UK UK Index is just offside as a significant drag from heavyweights RDSB (results, tax charge; -11pts), VOD (Q3 revenues fall; -7pts), RELX (broker downgrade; -3.5pts), SHP (Jan downtrend, strong GBP; -1pts) and RB/DGE (strong GBP; -3pts) offsets positive contribution from BP (high oil price, pref vs RDSB; 3pts), BATS (defensive, tech bounce; 2pts), BLT/RIO (support after pullback, up in Oz o’night; 2.5pts), AZN (rebound ahead of results; 1pts) and CCL.
The UK Index 100 holds a falling channel that could take it sub-7500. The DAX 30 has been sent back south, from 13300 towards 13140. Dow Jones Futures under pressure from 26200 falling highs resistance. Gold sideways $1335-1349.
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The UK Index 100 holds a falling channel that could take it sub-7500
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 been sent back south, from 13300 towards 13140
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 under pressure from 26200 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.
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Gold’s sideways $1335-1349
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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