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European equities are recovering after the resignation of Trump’s top economic adviser Cohn overnight, clawing back to breakeven, however US futures still point to a sharply lower open. A European rebound comes courtesy of the US dollar regaining some poise, however this is also capping UK Index gains as commodities suffer, further compounded by heightened concerns of a global tariff war in the wake of pro-trade Cohn’s departure from the White House.
The UK 100 has reversed its declines to trade flat thanks to RR (results), NG (Ofgem price review, rebound), ULVR/BATS (defensive, heavyweight) and SKG (official bid from Int. Paper). These offset negative contributions from Miners (Trump chief economic advisor quits, US tariff concerns, metals lower, risk aversion), Oil (oil priced lower, big API Crude build) and pullbacks for AZN/WPP.
The UK Index 100 has broken back above 7,135. The DAX 30 bounced to close the gap at 12,120. Dow Jones Futures are making an upside test of 24,600. Gold is pulling back to support around $1330, in a new rising channel.
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The UK Index 100 has broken back above 7135. Back to yesterday’s highs?
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 bounced to close the gap at 12,120. Back to yesterday’s highs?
Watch levels: Bullish 12,120; Bearish 12,060
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 making an upside test of 24,600. Can they break highs?
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 is pulling back to support around $1330, in a new rising channel.
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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