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Global equities are positive, helped by stateside Tech stabilisation as investors await more on US tax reform and Brexit negotiations. Positive Eurozone GDP and solid UK house Prices, is also helping while traders look to tomorrow’s key US jobs report for their latest cues on the US economy. Germany’s DAX outperforms on EUR weakness.
The UK UK 100 is just above break-even thanks to demand for a host of defensives (RB, VOD, BT, DGE, GSK) overpowering the drag from a stronger GBP (off recent lows) on the likes of BATS/ABF, lower oil/stronger USD (RDSB/BP) and RIO (stronger USD). Germany’s DAX is being led higher by VW (Nov sales), Vonovia, Lufthansa, DTel (US buybacks), RWE and Linde, with meaningful declines for just BASF (UBS downgrade).
The UK Index 100 has paused around 7355 before a break higher or lower. The DAX 30 may have topped out at 13085. Dow Jones Futures are in a falling channel from recent highs. Gold has breached $1260, extending its recent reversal.
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The UK Index 100 has paused around 7355 before a break higher or lower. Bullish pennant?
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 may have topped out at 13085 with a duo of resistance and long upper tails.
Watch levels: Bullish 13,050; Bearish 13,015
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 in a falling channel from recent 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.
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Gold has breached $1260 extending its recent reversal. All prior lows since Jly offer potential for support if weakness persists.
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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