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European equities are trading flat to offside, while US equities are guided sharply higher ahead of this afternoon’s key inflation data. UK traders are cautiously awaiting a Spring budget statement from Chancellor UK Hammond, likely to produce several consultations on areas ranging from tax to plastic, before undertaking any serious trading, while the German DAX settles after yesterday’s utilities M&A induced rally.
The UK 100 is flat as gains for GLEN/RIO (metals off lows, ANTO results) and RDSB/BP (oil flat), each adding at least 1pt to the index, offset the drag from BATS/IMB/ULVR/VOD/DGE (higher yields, bond proxies still being shunned), GSK (profit taking, 9-month falling highs resistance) and PRU (profit-taking ahead of results tomorrow).
The UK Index 100 is holding the breakout and bounce from 7187. The DAX 30 uptrend has paused 12400-450. Dow Jones Futures have turned back from 25500 falling highs, however remain supported. Gold has bounced from the $1317 floor of its rising channel.
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The UK Index 100 is holding the breakout and bounce from 7187.
Watch levels: Bullish 7,225, Bearish 7,187
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 uptrend has paused 12400-450
Watch levels: Bullish 12,440; Bearish 12,390
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 turned back from 25500 falling highs, however remain supported around 25200.
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 bounced from the $1317 floor of its rising channel.
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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