This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
Equities are mixed this morning, but not for want of underlying risk appetite as recent market take a back seat. While Dow futures and Germany’s DAX push further north the UK Index is the odd one out, nursing minor losses, after strong UK inflation data sent GBP higher to the detriment of its significant international exposure.
The German DAX outperforms thanks to EUR/USD holding around yesterday’s 3-day lows, helping industrials/exporters while banks embrace this week’s general risk-on mentality.
The UK UK 100 is just the wrong side of breakeven, hindered by GBP strength and being led lower by the likes of RDSb & BP (oil off highs), BATS/ULVR/RB (FX sensitive, defensives being shunned), VOD & SHP (profit taking). These are offsetting positive contributions from BARC/LLOY/RBS (strong UK inflation, threat of BoE rate rise), AHT (hurricane beneficiary; temp power provider) and PRU (hurricane not as bad as it could have been).
The UK Index 100 is testing yesterday’s 7385 lows for support. The DAX 30 has broken above 12500 to extend its rebound. After yesterday’s breakout, Dow Jones Futures are half-way towards a revisit of 22180 record highs. Gold has fallen back close to July rising support at $1320
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The UK Index 100 is testing yesterday’s 7385 lows for support.
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 has broken above 12500 to extend its rebound
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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After yesterday’s breakout, Dow Jones Futures are half-way towards a revisit of 22180 record highs.
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 fallen back close to July rising support at $1320. Bounce?
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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