This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
The UK Index and DAX trade flat, held back by respective GBP and EUR strength versus the USD, fuelled by US spending plans (budget, infrastructure) sending USD lower whilst hot UK inflation keeps GBP strong along with the safehaven Yen and Swiss Franc. US indices look set to give up most of yesterday’s gains amid continued outlook uncertainty for US inflation and borrowing costs. Tech, Telecoms, Utilities underperform versus Miners, and Travel.
The UK UK Index is flat, with the positive contribution from Miners (weaker USD, higher metals prices) and Travel (TUI results) offset the drag from a host of defensives including Tobacco (stronger GBP) and Telecoms (under continued pressure).
The UK Index 100 is stuck below falling highs resistance at 7200. The DAX 30 is back below 12300 having succumbed to falling highs resistance. Dow Jones Futures are back below 24500, hampered by falling highs. Gold is at a $1330 crossroads its rebound channel having encountered Jan falling highs resistance.
Click below to expand sections for more detailed analysis
The UK Index 100 is stuck below falling highs resistance at 7200.
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 is back below 12300 having succumbed to falling highs resistance
Watch levels: Bullish 12275; Bearish 12200
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 back below 24500, hampered by falling 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 is at a $1330 crossroads its rebound channel having encountered Jan falling highs resistance.
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