This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
UK Index & DAX rather quiet this morning as we await further news on Greece’s next move on bailout negotiations post referendum, however, US futures holding up at their best overnight levels. The European pair both remain in clear short term downtrends, however, the latter has managed to deliver a decent breakout.
UK Index fallen back from 6550 after hitting falling 2-week resistance. DAX also failed to maintain rebound, held back before falling highs at 11000. Wall St holding around last Thursday’s 17800 highs having made a solid breakout. Gold still sideways, simply struggling to play safehaven game.
Click below to expand sections
The UK 100 may have rallied to 6575 to close the gap but has failed to do any better and since sold back towards lows of yesterday afternoon. Uptrend from October still alive and kicking for Bulls, but downtrends from end-May still keeping Bears excited.
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 recovered from lows around the 200-day moving average, but failed to close gap. Turned back at 11000, hindered by falling resistance dating back to end-June. Still in longer term falling 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
US Dow Jones bounced strongly and broken back above trend of falling highs from end-June. Back above 200-day moving average. Uptrend from October rescued? Upside to end-June highs? Gap at 17900 to be closed along the way?
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 still sideways, failing to act as a safehaven should, hindered by poor 2015 performance and a stronger USD. Resistance twice yesterday at $1175, and trend of falling highs to negotiate before upside to mid-June highs can be assumed.
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