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Equities have extended this week’s reversal, US President Trump to blame for reigniting trade war concerns with plans to slap punitive tariffs on steel and aluminium imports to bolster his protectionist approach. This just as we head into an uncertain Italian election, with anti-EU/Euro parties in the lead, and await UK PM May’s latest major Brexit speech at 1.30pm.
The UK 100 is dragged lower by RDSB/BP (lower oil), Miners (strong USD, Trump tariffs, risk-off), Banks (risk-off), BATS/DGE/VOD (higher bond yields hurting proxies) and AZN/GSK (pref for SHP breakout). Very limited help from ABF (Primark a bright spot on suffering UK high St?), SHP (breakout) and MNDI (results special div).
The UK Index 100 has found support at overnight lows of 7100. The DAX 30 has re-tested 9 Feb lows of 11910. Dow Jones Futures are testing for a breach of 24400. Gold is trying for a breakout at $1324.
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The UK Index 100 is back testing overnight lows of 7100
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 re-tested 9 Feb lows of 11910.
Watch levels: Bullish 11,960; Bearish 11,910
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 testing for a breach of 24400.
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 is trying for a breakout at $1324, benefiting from the USD trading off its highs as well as the general risk-off sentiment.
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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