This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
Equity markets are only slightly offside this morning as investors prepare for risks associated with an exciting French first round election on Sunday, deal with another terror event in Paris and decide how to digest fresh US administration attempts to reignite faith in the Trump trade following the recent market sell-off. While corporate results continue to flow, investors are taking stock of a busy week, indices remaining close to breakeven.
The UK’s UK Index is the underperformer, with Oil (RDSb, BP) and Defensives (ULVR, BATS, RB, AZN, DGE) again doing most damage on account of oil price concerns and a stronger GBP, respectively, while both the German DAX and Wall St futures are flat, holding around their bounce highs of yesterday.
The UK Index 100 has pulled back from 7135 highs but remains above 7105. The DAX 30 remains in a narrow 12010-12060 sideways channel. Dow Jones Futures are holding a break above falling resistance and could be in the midst of a bullish flag pattern to 20750. Gold sits $1280-1283 awaiting a break either way.
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The UK Index 100 has pulled back from 7135 highs but bounced from 7105. 2017 lows of 7085 remain valid as long term support.
Watch levels: Bullish 7115; Bearish 7105
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 remains in a narrow 12010-12060 sideways channel. Which way will it break?
Watch levels: Bullish 12065; Bearish 12040
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 holding a break above falling resistance and could be in the midst of a bullish flag pattern to 20750
Watch levels: Bullish 20,615; Bearish 20,565
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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Gold sits $1280-1283 awaiting a break either way. Fresh USD strength offsetting mild safehaven appetite.
Watch levels: Bullish $1284; Bearish $1278
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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