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European equities are higher, in spite of the Italian election handing another win to populist politics, albeit with the ultimate coalition outcome still very uncertain. Add to this more US/Europe tit-for-tat on trade tariffs, and some disappointing PMIs, and the optimism that helped engineer a bounce from last month’s first effort at a correction looks less and less convincing. Germany’s DAX outperforming thanks to weaker EUR. UK Index higher, but held back by stronger GBP. Dow Jones futures called a shade lower.
The UK 100 is slightly higher thanks to Miners (bounce after US metal tariff concerns), VOD (falling lows support), RBS (bounce after sell-off; preference versus other European banks, especially Italian), CRH (weaker EUR and stronger USD) and BP (oil prices off lows). Holding it back are BATS/RB (continued dislike of bond-proxies, stronger GBP), HSBC (testing 8-month support) and SHP (profit taking after takeover speculation fuelled bounce).
The UK Index 100 is off its lows, but still in a downtrend and stuck below 7100. The DAX 30 has turned back from falling highs resistance at 12030. Dow Jones Futures have been turned back from falling highs resistance at 24570. Gold has broken above falling highs resistance at $1320.
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The UK Index 100 is off its lows, but still in a downtrend and stuck below 7100.
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 turned back from falling highs resistance at 12030
Watch levels: Bullish 12,040; Bearish 11,950
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 have been turned back from falling highs resistance at 24570.
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 falling highs resistance at $1320.
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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