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Equity indices are handsomely bullish in the run-up to the latest volatility-inspiring US Jobs report which is – as always – the most important jobs report since…. the last one and …before the next one. Whatever the outcome, markets are almost certain to react. Which way depends whether investors interpret the data as good/bad in terms of economic recovery or closer to/further from the end of the easy monetary policy that they have become addicted to. UK Index drivers include renewed interest in heavyweight, USD-sensitive, high-yielding defensives. There are outweighing weakness among UK financials and Housebuilders which are giving up some of their recent gains on revived doubts about economic recovery.
The UK 100‘s overnight bounce from 6720 is getting a second wind. Bullish flag to 6810 channel ceiling? The DAX 30 is in a shallow rising channel with support at 10500. Dow Jones futures have rallied back close to test the ceiling of their 3-week falling channel at 18435. Gold has managed to hold its 2016 uptrend with support via its 100-day MA at $1305. Is the 3-week downtrend finished with though?
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The UK 100 ‘s overnight bounce from 6720 is getting a second wind. Bullsh flag to 6810 channel ceiling?
Watch levels: Bullish 6800, Bearish 6770
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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The DAX 30 is in a shallow rising channel with support at 10500. Resistance at 10580?
Watch levels: Bullish 10590, Bearish 10520
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
Dow Jones futures have rallied back close to test the ceiling of their 3-week falling channel at 18435.
Watch levels: Bullish 18450, Bearish 18380
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 has managed to hold its 2016 uptrend, and even deliver a bounce of sorts thanks to support from its 100-day MA at $1305. Still technically in a 3-week downtrend though.
Watch levels: Bullish $1313 Bearish $1309
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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