Getting latest data loading
Home / Index Focus / Index Focus – 21 Jul

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

Index Focus – 21 Jul - 21 July 2015

Equity markets in the red this morning having lost recovery momentum despite near-term resolution of Greek bailout worries, Chinese equities regaining composure (however artificially it may prove) and an otherwise solid start to earnings season. The prospect of an impending US rate rise is keeping the USD doggedly strong (3-month highs) which is weighing heavily on commodities (especially Gold) and beginning to bite into US corporates’ revenue growth.

UK 100 testing recent lows 6770 after failing at another test of 6800. DAX30 sideways 11700-11800, Dow Jones back from 18150 and struggling with 18100. Gold bounced from 5yr lows but weakened again overnight to test $1100 again.

Click below to expand sections

Where next?
  1. Will the index rally towards highs of 6875? or;
  2. Will the index fall  towards lows of 6,410?

UK 100  rebound lost momentum around 6800. Extended pause before resumption of rally, or pullback towards support at 6750 200-day MA first?

Solid Green line
Possible support

Solid Red line
Possible resistance

  • Trend: Sideways
  • Potential support: 6767, 6750, 6710
  • Potential resistance: 6790, 6800, 6815

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 rally towards highs 12,350? or;
  2. Will the index fall towards lows of 10,650?

Germany’s DAX breakout from 3-month falling channel still in play but resistance encountered at 18100 for a second time. Support at 11700 remain bullish, but potential for a pullback to 11600 to further digest strong rebound gains from 10700 lows.

Solid Green line
Possible support

Solid Red line
Possible resistance

  • Trend: Dwntrend
  • Potential support: 11700, 11600, 11500
  • Potential resistance: 11800, 11890, 12050

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 18,365? or;
  2. Will the index fall towards lows of 17,450?

US Dow Jones encountered resistance at 18150 via intersecting trendline from mid-April. Failure to get back above 18100 this morning is not a good sign this morning suggesting further digestion (sideways, pullback) of recent rally may be needed before uptrend can resume.

Solid Green line
Possible support

Solid Red line
Possible resistance

  • Trend: SIdeways
  • Potential support: 18050, 18030, 18000
  • Potential resistance: 18100, 18140, 18160

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 Gold bounce back towards $1188? or;
  2. Will Gold fall back to 5yr lows $1084?

Gold may have bounced from 5yr lows, but it has work to do before generating any recovery excitement as still very much in a downtrend.  Failure to get back above $1120 yesterday and $1110 this morning keeps bears in control over any remaining bulls. Continued hawkish Fed talk remains a hindrance, keeping keeping USD strong.

Solid Green line
Possible support

Solid Red line
Possible resistance

  • Trend: Downtrend
  • Potential support: 1110, 1094, 1084
  • Potential resistance: 1110, 1120, 1130

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.
.