This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
European equities are mixed this morning, with fresh US dollar strength helping both European and UK equities via reciprocal GBP and EUR weakness. This comes after US bourses made fresh records on their return from a long weekend, still bullish about the future. In London, Lloyds profits at 10yr highs and continued interest in a range of defensive names is offsetting understandable weakness among Miners whose wares are hampered by the dollar’s rally. In Frankfurt, gains from engineer Thyssenkrupp’s brazilian asset sale are offsetting questions about Bayer’s growth after the big Monsanto acquisition, while US indices look set for a slightly weaker start.
The UK 100 has found rising support at 7275, allowing another bullish test of 7300. The DAX 30 is making a bullish test of 11200, trading around 22-month highs. Dow Jones Futures support at 20700 keeps alive a 2-week bullish flag that could take it all the way to 21,000. Gold has bounced from $1226 to keep intact its Feb uptrend.
Click below to expand sections for more detailed analysis
The UK 100 has found rising support at 7275, allowing another bullish test of 2-day resistance at 7300. Can it break higher?
Watch levels: Bullish 7300, Bearish 7265
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 is making a bullish test of 11200, trading around 22-month highs. Can it rally on to test 12400 all-time highs?
Watch levels: Bullish 12005, Bearish 11955
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 support at 20700 keeps alive a 2-week bullish flag that could take it all the way to 21,000.
Watch levels: Bullish 20,730, Bearish 20,695
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 bounced from $1226 to keep intact its Feb uptrend. But can it break above $1244 to allow extension of major bullish flags?
Watch levels: Bullish $1238, Bearish $1236
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