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Major equity indices are negative, as investors react to the implementation of yet another controversial executive order from the new resident of the White House. Trump’s travel ban adds to the Mexican Wall and his attempt to curb immigration and pursue a pro-America, anti-globalisation, anti-terror mandate. He’s sticking to his pledges, adding to concerns that he goes all in and pins chunky import tariffs on China (and elsewhere?) to encourage Americans to buy domestic.
A USD sell-off has reversed leaving GBP and EUR where they were late Friday. Weighing on the UK Index are Oil majors, Banks, Defensives and Miners fighting off gains for Vodafone as investors cheer Indian M&A talks. DAX hindered by Financials, Utilities and Industrials. Wall St called lower on political and immigration uncertainty (tech, finance).
The UK 100 is testing major support at 7130 potentially starting the final leg of a bearish flag. The DAX 30 is troubled by falling highs at 11800. Support at 11700? Dow Jones Futures has successfully tested the magic 20,000 for support in its retreat from last week’s all-time highs. Gold completed a double-top at $1180, but is a bullish or bearish flag forming?
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The UK 100 is testing major support at 7130 potentially starting the final leg of a bearish flag.
Watch levels: Bullish 7140, Bearish 7110
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 is troubled by falling highs at 11800. Support at 11700? Note the oversold RSI
Watch levels: Bullish 11735, Bearish 11710
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 has backtracked to test for support near the magic 20,000. Bounce or more downside?
Watch levels: Bullish 20,050, Bearish 20,025
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 completed a double-top down at $1180 before bouncing. But what type of flag is forming as we edge back from $1190? Is this the breakdown to trigger a major bearish flag or is this the pause amid a smaller bullish flag?
Watch levels: Bullish $1193, Bearish $1187
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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