After several weeks of share drops and a seven-day losing streak, miners started moving to the upside today with a decent 1.1% spring. The jump came just as electric car-maker Tesla sees future shortages in metals and battery minerals. The move is a breath of fresh air, given that most miners have seen their share prices…
This week the UK 100 extended its pullback from 2019 highs. It even broke below 7400 to abandon its post-Christmas rising channel. However, February rising support came the rescue at 7319 to stem the declines and keep the uptrend alive. However, that breached 5-month trend-line has already served as resistance today. And falling highs are compounded…
This week you asked me for a refresher on what I wrote a month ago: Support. A reminder of how to evaluate shares which could be due a bounce is always helpful. Although I know that what you’re really after is another trio of live examples, as fruitful as the last batch. On top of our…
The UK 100 has pulled back 1.7% from fresh multi-month highs of 7530, its best since early October. Declines, however, were stemmed Thursday/Friday by shallow April rising support at 7400. This offers potential for the index to bottom out further next week. Perhaps until it tests the post-Christmas rising support trendline itself at 7385. That…
On Tuesday the US flexed its muscles, withdrawing Iranian sanctions waivers on oil exports. In a bid to strangle the Iranian economy by blocking its main export, the US pushed oil prices higher. Brent Crude Oil hit fresh 2019 and multi-month highs of $75/barrel. We can now expect China/India/Russia to face reprisals if they get caught ignoring…
Over the last few weeks I have written about Banks, Ranges and Results. All three have been popular topics for trading clients. So how about a write-up combing all three. The UK Index Banks have begun to report their results for the first quarter of 2019, and, low and behold, several of them are trading…