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Equities are in the red, but well of their lows, after President Trump confirming trade tariffs aimed at China, spooking fears of a global trade war, and having made yet another worrying change to his advisory team. UK Index and Wall St outperform, well off their lows, holding near highs of the day, while the DAX has settled back around its overnight mid-point.
The UK 100 is down on negative contributions from Banks, Miners and Oil, sectors which typically bear the brunt of such risk-off moves. Note oil majors suffering despite oil holding near highs as the stronger GBP weighs. At the other end of the index, support is on offer from GSK (pulled out of M&A), BATS/VOD (defensive) and NXT (results).
The UK Index 100 is making a bullish test of 6920. The DAX 30 has bounced back towards 12000. Dow Jones Futures are making an upside test of 24000. Gold has broken above $1340 thanks to USD weakness and safe-haven seeking.
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The UK Index 100 is making a bullish test of 6920. Bullish flag breakout?
Watch levels: Bullish 6930, Bearish 6905
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 bounced back towards 12000 although needs to overcome falling highs.
Watch levels: Bullish 11950; Bearish 11925
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 are making an upside test of 24000 after recovering from early morning lows.
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 broken above $1340 thanks to USD weakness and safe-haven seeking.
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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