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Equities remain bid, buoyed by global market optimism which is supported by solid macro data and geopolitical uncertainty failing to concern, much like last year. Germany’s DAX outperforms (+1%), rebounding strongly on EUR weakness. The UK Index has followed the Dow/S&P/Nasdaq to a fresh record highs, but is held back by GBP resilience.
The UK UK Index ‘s break higher is driven by RB/BATS (bounce), GSK/PRU (resuming uptrend), BLT (commodity sector strength) and ABF (hopes of strong Xmas trading) with resistance from just HSBC and ADM (broker downgrade).
Germany’s DAX outperforms, with outsized gains (>1%) for Bayer/Henkel, VW/Continental (broker upgrades), Frenenius/Merck, Linde/BASF and SAP offsetting minimal drag from Deutsche Bank (-1.3%), the only stock down more than 0.3%.
The UK Index 100 has broken north to a fresh 7725 record. The DAX 30 has regained December 13330 highs, but encountered resistance. Dow Jones Futures continue their northerly march above 25K. Gold is back at its $1315 rising channel floor.
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The UK Index 100 has broken north to a fresh 7725 record, extending its bullish rising channel.
Solid Green line
Possible support
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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 regained December 13330 highs, but encountered resistance. Too strong a rally?
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 persist with their northerly march above 25K.
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 is back at its $1315 rising channel floor after a pullback.
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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