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Equities are mixed at the mid-week point with another leg down for the US Dollar being the story of the day after yesterday’s breakdown and US Treasury Secretary Mnuchin today saying a weak Greenback is good for the US. Germany’s DAX is flat on account of USD weakness sending the EUR to fresh 3yr highs, and mixed European PMIs. The UK’s UK Index is lower as the GBP continues its climb, fuelled by both strong UK wages data and the Dollar weakness. Wall St equities extend their rebound from yesterday’s sell-off. Oil holds its ground.
The UK Index has broken lower as BATS/IMB, AZN/GSK DGE, ULVR (GBP strength internationally sensitive defensives), SGE (trading update), CRH (profit taking) and BAE (tech breakdown) deprive the index of 27pts, easily offsetting a combined and muted contribution of just 4pts from BP (high oil prices) and GLEN (weak USD, metals rebound).
The UK Index 100 has broken below this morning’s 7720 bearish watch level. The DAX 30 trades sideways around 13560. Dow Jones Futures continue to climb back towards 26300. Gold’s $1345 breakout has been slowed by 4.5yr falling highs resistance at $1350.
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The UK Index 100 has broken below this morning’s 7720 bearish watch level. Note 7720 already turned from support to resistance.
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 trades sideways around 13560. Bullish ascending triangle?
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 continue to climb back towards 26300.
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 $1345 breakout, fuelled by USD weakness, has been slowed by 4.5yr falling highs resistance at $1350.
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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