This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
Equities are holding close to this week’s best levels following a last minute surprise agreement from OPEC to work towards a production cut that helps stabilise oil prices and lessen the global supply glut. Sharply higher oil prices have understandably boosted Energy names and given a fillip to the Mining space, although we note barrel prices coming off the boil as markets realise this is merely a step towards a cut. Amid today’s revival of risk appetite one could almost be forgiven for forgetting the woes of Deutsche Bank which had been as dominant as OPEC on sentiment this week.
The UK 100 has again turned back from 6935 making it three failed attempts in September. The DAX 30 is pausing around 10550 after an overnight bullish breakout above 10500. Dow Jones Futures are already slowing up their advances around 18350 after the 18250 breakout. Gold is holding around $1320 thanks to 2016 rising support.
Click below to expand sections
The UK 100 ‘s has again turned back from 6935 making it three failed attempts in September that bolsters 17-month falling highs resistance. Is a retrace on the cards, or are we in the midst of a bullish flag breakout that takes us back to 7000?
Watch levels: Bullish 6925, Bearish 6895
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 pausing around 10550 after an overnight bullish breakout above 10500 that puts it back in the upper half of its September trading range. Onwards and upwards?
Watch levels: Bullish 10575, Bearish 10515
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 already slowing up their advances around 18350 after the 18250 breakout. Just a pause, or is the rally over?
Watch levels: Bullish 18370, Bearish 18315
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 holding around $1320 thanks to 2016 rising support. Bounce?
Watch levels: Bullish $1324, Bearish $1319
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