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 with Europe staging a significant rebound while US counterparts sit flat. This as Brexit fears recede on the assumption that the senseless murder of pro-Europe MP Jo Cox, and suspension of UK referendum campaigning by both sides, will result in a swing back to Remain that can overcome the lead that the Leave camp has taken in recent polls. A weaker USD derived from a rebound in GBP from 2-month lows and a more dovish Fed is helping commodities, notably oil which has snapped a 6-day run of declines to help foster improved risk appetite while safe havens underperform.
The UK 100 has rebounded back to test the 6050 level we broke below last week. Can we get back into that familiar 6050-6300 channel? The DAX30 bounce is back testing 9700. Like the UK Index , can it get back above 9800 to trade its early May channel? Wall Street/Dow Jones futures have found resistance 17780 which has stifled their rebound from 17500. Gold has fallen back from its fresh $1315 highs to test $1277-80 for support thanks to the aforementioned revival in risk-appetite. Does a bearish H&S top pattern bode well for stocks?
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The UK 100 has rebounded back to test the 6050 level we broke below last week. Can we get back within the familiar confines of that May 6050-6300 channel?
Watch levels: Bullish 6055, Bearish 6010
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 DAX30 bounce is back testing 9700. Like the UK Index , can it get back above 9800 to trade its early May channel?
Watch levels: Bullish 9705, Bearish 9655
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
Wall Street/Dow Jones futures have found resistance 17780 which has stifled their rebound from 17500. Breather before another attempt higher. Or full retrace of recent gains?
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 from its fresh $1315 highs to test $1277-80 for support. This thanks to the aforementioned revival in risk-appetite. Could a bearish Head & Shoulders top reversal be in the making, back to $1250?
Watch levels: Bullish $1291, Bearish $1275
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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