Getting latest data loading
Home / Index Focus / Index Focus – 16 Jul

This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.

Index Focus – 16 Jul - 16 July 2014

Equities still in recovery mode from recent correction lows helped by overnight China data, a relatively dovish testimony by Fed chair Yellen (although not without the usual fence-sitting caveats) and so far decent Q2 results from the US. This also despite news that Portugal’s Espirito Santo woes continue which bodes well in terms of investor maturity regarding negative drivers while equities trade near highs.

The UK’s UK 100  is trading 1-week highs and testing the 100-day MA this morning. Now above the 6760 resistance from the beginning of the week we look to 6870 early month highs which would take the index closer to the 2014 ceiling 6870-6900. Note however, falling highs since early June and RSI overbought in short-term.

Germany’s DAX is only testing 1-week highs, which means a possibility that last Thursday’s at 6832 remains a hurdle. The 2014 chart shows continued bounce from rising March support with potential to regain 10000.  RSI overbought on short-term timeframes. 

The US Dow Jones has made fresh all-time highs this morning. The rising wedge-like pattern from February holds although we are again approaching the upper boundary. US results still offering help with more positive than negative surprises. RSI remains in upper half of chart which is bullish.

Click below to view graphs

Where next?
  1. Will the index rise towards highs of 6870? or;
  2. Will the index fall towards lows of 6640?

Solid Green line
Possible support

Solid Red line
Possible resistance

  • Trend: Sideways
  • Potential support: 6760, 6700, 6640
  • Potential resistance: 6870

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

Where next?
  1. Will the index rise towards highs of 10048? or;
  2. Will the index fall towards lows of 9620?

Solid Green line
Possible support

Solid Red line
Possible resistance

  • Trend: Uptrend
  • Potential support: 9620
  • Potential resistance: 10048

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

Where next?
  1. Will the index rise above highs of 17118? or;
  2. Will the index fall towards rising lows of 16855?

Solid Green line
Possible support

Solid Red line
Possible resistance

  • Trend: Uptrend
  • Potential support: 16855
  • Potential resistance: 17118

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

Back to Top

This research is produced by Accendo Markets Limited. Research produced and disseminated by Accendo Markets is classified as non-independent research, and is therefore a marketing communication. This investment research has not been prepared in accordance with legal requirements designed to promote its independence and it is not subject to the prohibition on dealing ahead of the dissemination of investment research. This research does not constitute a personal recommendation or offer to enter into a transaction or an investment, and is produced and distributed for information purposes only.

Accendo Markets considers opinions and information contained within the research to be valid when published, and gives no warranty as to the investments referred to in this material. The income from the investments referred to may go down as well as up, and investors may realise losses on investments. The past performance of a particular investment is not necessarily a guide to its future performance. Prepared by Michael van Dulken, Head of Research

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
.