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European equity markets are mixed as investors digest the recent sell-off. The UK Index is negative, but off its lows, potentially having found a bottom following yesterday’s snap election announcement and GBP coming off its rebound highs. The German DAX is holding around break-even in spite of EUR strength (derived from USD weakness). Wall Street is flat amid a mixed batch of corporate results, although geopolitics is still very much ruling the roost.
The UK’s UK 100 underperforms due to a continued drag from the Oil Majors (oil price lower, GBP strength) but now joined by some big currency-sensitive defensives (DGE, BATS, IMB, NG). Helping today are Miners and Banks following the recent sell-off. The Germany’s DAX is supported by Banks and Autos while Wall St futures hold firm after solid results from Morgan Stanley.
The UK Index 100 has found support at 7100. The DAX 30 has bounced off 2-month rising support and the floor of its April falling channel at 11950. Dow Jones Futures have bounced back above 20500 to keep a 3-month uptrend alive. Gold has fallen back to $1280 after hitting 9-month resistance.
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The UK Index 100 has found support at 7100. Is a bounce on the cards? RSI suggests oversold.
Watch levels: Bullish 7140, Bearish 7120
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 bounced off 2-month rising support and the floor of its April falling channel at 11950.
Watch levels: Bullish 12040, Bearish 12000
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 have bounced back above 20500 to keep a 3-month uptrend alive.
Watch levels: Bullish 20535, Bearish 20,515
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 fallen back to $1280 after hitting 9-month resistance at $1295. RSI correcting from overbought.
Watch levels: Bullish $1284, Bearish $1281
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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