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Global equities are a shade offside to start the new week with holidays in Asia (Lunar New Year) and the US (Presidents’ Day) reducing trading volumes. This means a pause for last week’s global rebound. However, it may prove timely in terms of providing investors with a little more time to digest and decide – ahead of a busy corporate update roster including AAL, BARC, BLT, GLEN, HSBC, IAG, LLOY and RBS – whether the recovery merits another up-leg.
In London, the UK 100 is just offside, weighed down by RB (weak Q4), ULVR (RB read-across), BLT (USD bounce, metals off highs, continued profit taking ahead of results), SHP and VOD, but supported by gains for BP/RDSb (higher oil price), AZN (drug news), HSBC/BARC/LLOY (higher bond yields, rates rising, buying ahead of results this week).
The UK Index 100 has found resistance at 7300, and broken below rising support. The DAX 30 has broken below steeper rising lows at 12500. Dow Jones Futures are testing the floor of a new rising channel at 25275. Gold has found support at $1345.
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The UK Index 100 has found resistance at 7300, and broken below rising 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 below steeper rising lows at 12500
Watch levels: Bullish 12,460; Bearish 12,420
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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Dow Jones Futures are testing the floor of a new rising channel at 25275
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 found support at $1345
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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