This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
Equity indices are mixed this morning. A retreat in Bank shares is partly to blame following overnight news of a $14bn US legal challenge against German giant Deutsche Bank for mis-selling pre-crisis. This has understandably sent ripples across the sector pool, especially UK-based RBS which awaits its own bad news from across the pond. Reduced risk appetite into the week-end comes in spite of ever receding expectations the Fed will be able to hike US rates at all in 2016. Also being ignored is Copper’s breakout offering some welcome good news for a commodities sector under pressure from a weak oil price in the run up to this month’s production freeze/stabilisation meeting in Algeria.
The UK 100 is back in its end-August down-channel after another failure at 6745. The DAX 30 remains hindered at 10450 by falling highs since last week’s turn-back from 16-month resistance. Dow Jones futures are holding above 18150 support. Gold is sideways at $1315 this morning, still in a 1-week downtrend that is already testing 2016 rising support.
Click below to expand sections
The UK 100 is back in its end-August down-channel (6640-6740) after an overnight failure to overcome 6750. Back to the channel floor? Or another go at a breakout?
Watch levels: Bullish 6750, Bearish 6700
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 DAX 30 remains hindered at 10450 by falling highs since last week’s turnback from 16-month resistance. Deutsche Bank weighing on risk appetite into the week-end.
Watch levels: Bullish 10410, Bearish 10355
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 are holding above 18150 support. Note 1-week downtrend at 18200 versus 8-month rising lows at 18000. Which will prevail?
Watch levels: Bullish 18190, Bearish 18130
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 is sideways at $1315 this morning, but still in a a 1-week downtrend that is already testing 2016 rising support. Worse to come?
Watch levels: Bullish $1317, Bearish $1311
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