This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
Equity markets off their worst levels of yesterday following a strong USD-induced global rout which dented an already hurting commodities space. Overnight China data may have disappointed, but likely just boosts hopes of more stimulus being forthcoming. Gold found support despite EUR-weakening ECB QE adding to USD strength and undermining the yellow metal while safehaven demand remains tepid in spite of an uncertain Greek, global growth and political outlook.
The UK 100 ‘s correction from all-time highs extended to nearly 300pts, taking it as far back as 6690 to trade 8-week lows and completing the double-top pattern discussed. All eyes no on whether support holds, or we start another leg down.
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
Germany’s DAX continues to push ever higher registering fresh all-time highs again this morning. The trend of rising lows from 10 Feb hoods true, as does that for 2015. Daily RSI overbought, but still rising.
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 US Dow Jones fall-back from all-time highs end-Feb extended to over 600pts before support kicked in around 17700. Bounce or just a pause? Daily RSI headed back towards but not quite oversold.
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’s retrace back from March highs towards November lows persists with the confines of declining channel continuing to usher the yellow metal lower. Daily RSI oversold.
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