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Major equity indices are mixed, as yet undecided as to their direction into the new trading week. Transatlantic politics remains ever dominant while some disappointing China PMI data overnight gives pause for thought and investors continue to digest a mixed US jobs report that likely doesn’t push the Fed one way or the other.
Helping the UK Index outperform with slim gains are BP (oil up), Banks (US deregulation hopes), select Miners (copper bounce), Healthcare (sector still bouncing on US dereg. hopes) and Tobacco (FX boost). This is offsetting a drag from Reckitt Benckiser (M&A digestion?), Shell (often goes the other way to BP), Vodafone (post results bounce petered out), IAG (Ryanair results disappointed) and GBP/USD off its worst levels. Germany’s DAX underperforming, small losses in spite of EUR/USD weakness as Adidas and VW weigh, while the Dow Jones holds around breakeven.
The UK 100 is trying to overcome 7205 resistance but has yet to deliver a test convincing enough of a breakout. The DAX 30 remains stuck around 11650 with long upper and lower tails suggesting indecision. Dow Jones Futures are trying to get above 20075 in order to regain all-time highs of 20135. Gold has added to Friday’s bounce to break back above $1220 and form support at $1222.
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The UK 100 is trying to overcome 7205 resistance but has yet to deliver a test convincing enough of a breakout.
Watch levels: Bullish 7215, Bearish 7190
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 remains stuck around around 11650 with long upper and lower tails suggesting investor indecision.
Watch levels: Bullish 11690, Bearish 11635
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 are trying to get above 20075 in order to regain all-time highs of 20135.
Watch levels: Bullish 20,095, Bearish 20,045
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 has added to Friday’s bounce to break back above $1220 and form support at $1222. Could still be on for a bullish flag back to $1280
Watch levels: Bullish $1226, Bearish $1221
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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