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Global equity markets are in recovery mode as fears of a war in the Korean peninsula abate, for now. The US dollar rebound has hit pause, which has paved the way for other drivers to take hold for European indices. The UK Index has pared much larger gains as Brent Crude falls to fresh 1.5 week lows, while the DAX outperforms as the Euro underperforms in currency space. A refreshingly full data docket this afternoon – including German CPI and US GDP (2nd reading) – could provide further drivers for US markets.
The UK 100 recovery is being led higher by Dollar and Euro sensitive heavyweights, including HSBC, GSK, BATS, DGE and ABF, overcoming losses for AZN (extending sell-off from resistance), LLOY (failure to overcome yesterday’s highs), AAL (following 2 weeks of gains), RDS (Crude Oil weakness) and IAG (technical breakdown). Germany’s DAX outperforms as exporters rally to the top of the index by way of EUR weakness, helping to offset a poor showing from Utilities.
The UK Index 100 has broken below overnight lows of 7360 after failing to overcome 7380. The DAX 30 has failed to maintain a breakout above 12010 support turned resistance. Dow Jones Futures have fallen below 21900 after falling from 21950 3-week falling highs resistance. Gold has paused having bounced from $1307 support.
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The UK Index 100 has broken below overnight lows of 7350 after failing to overcome 7380. Will it find its feet around 7350 or fall back to yesterday’s 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.
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The DAX 30 has failed to maintain a breakout above 12010 support turned resistance, falling back below 12000. Will it pare yesterday afternoon’s gains?
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 have fallen below 21900 after failing to overcome 21950 3-week falling highs 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.
Click here for help with Support & Resistance Click here for help with technicals
Gold has paused having bounced from $1307 support. Will it return to $1313.5 overnight highs or back to retreat back to support?
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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