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Equities are posting small losses as an oil price sell-off (partly reversed), auto sector weakness, an extension of unwelcome GBP+EUR strength, continued Trump uncertainty and mixed corporate results this week all combine to overpower last week’s late revival of bullishness.
The UK UK 100 is being held underwater as disappointing updates from Standard Chartered and Rio Tinto drag on banking and Mining peers, BP reacts to lower oil prices and both BATS and CRH struggle with GBP strength. There is limited help from gains for defensives such as BAE Systems (results), Glaxo, IAG and Reckitt Benckiser.
Germany’s DAX is offside as losses for HeidelbergCement (results yesterday; EUR strength) and Commerzbank (results) outpace gains for Lufthansa (results) and Vonovia (broker upgrade).
The UK Index 100 sell-off has found support at 7400. The DAX 30 has turned back below 12250. Dow Jones Futures hover around 22000 with potential for a break higher or lower. Gold holds above the floor of its July rising channel at $1265.
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The UK Index 100 sell-off has found support at 7400.
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 turned back below 12250.
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 hover around 22000 with potential for a break higher or lower
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 holds above the floor of its July rising channel at $1265.
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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