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Equities have made a flattish start to the week, adding to Friday’s gains following another Goldilocks jobs report – strong enough to maintain confidence in economic recovery but not so strong as to fuel fears of the US Fed hiking too quickly. The German DAX outperforms the UK Index thanks to Utilities embracing M&A and EUR underperforming GBP.
The UK 100 is flat as 1pt contributions for AZN (ignoring drug delay), GSK (delayed generic competition for Advair diskus) and PRU (higher bond yields, continued rebound) are offset by 1pt drags for RDSB (oil price off highs; rising US production), RIO (metals prices lower), BATS/RB (profit taking; bond proxy preference for utilities).
The UK Index 100 is off its highs, but holding the 7200 breakout. The DAX 30 maintains its uptrend, now above 12400. Dow Jones Futures have extended Friday’s breakout to 25400. Gold has pulled back towards’s Friday’s $1313 lows.
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The UK Index 100 is off its highs, but holding the 7200 breakout.
Watch levels: Bullish 7,230, Bearish 7,210
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 maintains its uptrend, now above 12400
Watch levels: Bullish 12,475; Bearish 12,400
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 extended Friday’s breakout to 25400.
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 has pulled back towards’s Friday’s $1313 lows.
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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