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Equities trade mixed, off their best levels and still under pressure from falling highs resistance. This could yet see us re-test recent lows, even breach them, increasingly the likelihood of a second leg lower within a corrective phase that began late Jan. Panic may have eased about a trade war, the White House suggesting tariff exceptions for allies, however any bullish breath is being held until we’ve heard what the European Central Bank’s Draghi has to say on the outlook for growth and policy in his press conference at 1.30pm.
A flat UK 100 sees positive contributions from ULVR/VOD/GSK/AZN/DGE/NG (fresh interest in recently shunned bond proxies, the lack of explicit risk appetite) offset by several big names trading ex-dividend (BLT, STAN, CRH, PSN, EVR, SHP), AAL/GLEN/RIO (China trade data, metal tariff concerns), RDSb (USD off lows, oil pullback) and Aviva (results, profit taking).
The UK Index 100 remains under the cloud of falling highs resistance at 7175. The DAX 30 has bounced back to 12200. Dow Jones Futures are showing appetite for a meaningful break above 24800. Gold is pulling back towards $1320 again.
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The UK Index 100 remains under the cloud of falling highs resistance at 7175.
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 back to 12200
Watch levels: Bullish 12,220; Bearish 12,175
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 showing appetite for a meaningful break above 24800.
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 pulling back towards $1320 again.
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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