This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
Global equities are sharply lower, making for a cautious start to the trading week, with investors focused on the twin threats of a global trade war and a more hawkish Fed update on Wednesday. The UK Index underperforms after the GBP strengthened on reports of a UK/EU agreement on Brexit transition, which would make sense with a Barnier/Davis presser scheduled for 11.45am, although it sounds like the Irish border issue has yet to be fully resolved.
The UK 100 has been dragged lower by the likes of RDSb/BATS/BP/DGE/ULVR/IMB (stronger GBP), MCRO (profits warning, CEO resignation), Miners (lower metals prices) and HSBC (profit-taking). The only meaningful support comes from BARC (activist investor takes 5% stake) adding just 5pts.
The UK Index 100 has found support at 7070, just before March lows. The DAX 30 has bounced off 12230 to maintain its uptrend. Dow Jones Futures are making a bearish test of Feb rising support. Gold looks to be in a new falling channel.
Click below to expand sections for more detailed analysis
The UK Index 100 has found support at 7070, just before March lows
Watch levels: Bullish 7,095 Bearish 7,065
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
The DAX 30 has bounced off 12230 to maintain its uptrend.
Watch levels: Bullish 12,295; Bearish 12,230
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 making a bearish test of Feb rising support.
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 look to be in a new falling 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
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