This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
Equity indices are mixed as a buoyant UK Index (GBP weakness) and DAX (despite EUR strength) trade at odds with hungover Wall St futures, the latter following disappointing results from Macy’s that left investors fearful that poor US Retail Sales this afternoon fuelling the fires of a hard data (growth) vs soft data (surveys) debate and whether equities are overvalued.
The UK 100 is up thanks to healthcare (AZN drug trial results), interest in VOD ahead of results next week, HSBC tests March highs , BT benefits from bargain hunting post-results and BP enjoys the oil price bounce. Hampering sentiment are LLOY (bearish reversal), GLEN, RIO & BLT (depressed copper; China concerns), RDS (bounce paused), RR (topped out) and BARC (CEO woes). Germany’s DAX sees gains for Deutsche Telekom (results yesterday, US M&A) and Merck (AZN drug result) eclipsing losses for Thyssenkrupp (profits warning) and several ex-dividends (BMW, Adidas, Fresenius Medical)
The UK Index 100 continues to try and break and hold above 7400. The DAX 30 remains pressured at 12740 via falling highs since last Friday. Dow Jones Futures are back below 20900, struggling with falling highs resistance. Gold’s bullish reversal has taken it back above $1225.
Click below to expand sections for more detailed analysis
The UK Index 100 continues to try and break and hold above 7400.
Watch levels: Bullish 7410 Bearish 7385
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
DAX 30 remains pressured at 12740 via falling highs since last Friday. Bearish descending triangle top?
Watch levels: Bullish 12740 Bearish 12710
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
Dow Jones Futures are back below 20900, struggling with falling highs resistance.
Watch levels: Bullish 20900; Bearish 20860
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 bullish reversal has taken it back above $1225. Note RSI rebound from oversold. Potential to regain $1250?
Watch levels: Bullish $1230; Bearish $1225
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