This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
Equity indices are posting strong gains at this early stage of the new trading week with some attractive breakouts to boot. This suggests a welcome receding of last week’s investor uncertainty regarding global central bank policy, more confidence that Wednesday will see the BoJ maintain its stimulus course and the Fed eschew another hike. Oil prices off Friday’s September lows is helping Energy names, even if barrel prices are back from their overnight best, while a mixed session for base metals is failing to prevent Miners from outperforming on the back of yet more positive China data.
The UK 100 has broken above 6800 in the midst of a bullish inverse head & shoulders reversal that could take it back to 6860 or better. The DAX 30 has rallied back to 10350 with rising lows since Friday lunch. Dow Jones futures have accelerated their Fed uptrend to break beyond 2-week falling highs at 18200. Gold has bounced off December rising support at $1305 to remain in its narrow $1300-1340 range.
Click below to expand sections
The UK 100 has broken above 6800 in the midst of a bullish inverse head & shoulders reversal that could take it back to 6860 or better. RSI not yet overbought
Watch levels: Bullish 6825, Bearish 6785
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 has rallied back to 10350 with rising lows since Friday lunch. Beware falling highs resistance at 10400.
Watch levels: Bullish 10390, Bearish 10320
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 accelerated their Fed uptrend to break beyond 2-week falling highs at 18200. Back to the highs? RSI rising lows are supportive.
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 has bounced off December rising support at $1305 to remain in its narrow $1300-1340 range.
Watch levels: Bullish $1319, Bearish $1313
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