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European equities are positive this morning having fully rebounded from their geopolitical tension-fuelled lows of yesterday after Turkey shot down a Russian military jet on the Turko-Syrian border, heightening worries about the region even further. UK equities getting a helping hand from a selection of defensives (and the housebuilders ahead of the Chancellor’s Autumn statement) offsetting continued hindrance from the commodities space and talk of Shire stepping up its bid for Baxalta.
UK Index broken above yesterday’s 6315 highs, eyeing a test of falling resistance at 6350. DAX found support at 10900 to regain 11000 this morning. Wall St still hindered by June falling highs at 17900. Gold sold down from resistance at $1080.
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UK 100 rebounded strongly. Now trading within narrow channel 6220-6350. Ceiling could cap short-term gains, however breakout could allow for a move up to May falling highs at 6380 if the 100-day MA at 6360 can be bettered.
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Possible support
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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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Germany’s DAX still in September uptrend, but still in July downtrend. Around the apex, which way will she break? Beware 200-day MA at 11,100 which has been a hurdle since last week.
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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US Dow Jones futures still struggling to overcome June trend of falling highs 17900. Does the rebound from yesterday’s lows have legs? Can it engineer a breakout?
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 found resistance at highs at $1080 keeping it in its 3.5-year downtrend. RSI oversold, but shares not back at rising lows yet.
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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