This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
Equity markets are trading positive but subdued this morning on the back of big global uncertainty due largely to lack of progress in Brussels and Minsk, ongoing violence in Ukraine and hawkish Fed chatter. Gold, like oil, continues to be the rope in an economic tug of war between aforementioned conflicting drivers as well as a resilient USD.
The UK Index sits in a new, tighter 4-day sideways channel with persistent support and resistance around 6785 and 6850 respectively. A break either way is needed to get traders excited, however we still remain within the 3-week confines 6720-6905 which are likely to prove more significant in terms of the uptrend from mid-Dec.
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
Germany’s DAX continues its bounce from 10600, currently testing the trend of falling highs from 3-Feb. Still amid a pause after the bounce in early Jan. New all time highs needed before the longer term uptrend can resume.
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
The US Dow Jones’s breakout continues, confirmed by 3-day rising lows. Potential for all time highs of 18100 to be revisited. Note daily RSI remains with rising lows while the hourly sits bullishly in the upper half of the range.
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 now trades in the lower half of its 3-week falling channel with potential for a fallback all the way to the $1200 level despite myriad global uncertainties, which would normally benefit the safe haven commodity.
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
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