This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
European markets have taken over from the US markets by starting lower after a poor set of corporate earnings from some of the UK 100 constituents did little to provide confidence. A raft of macro data due for release today could provide further directions for the markets, however, corporate results seem to be the main denominator for the decline this morning.
Click below to view graphs.
The UK’s UK 100 failed to break resistance at its 20 day moving average yesterday while poor results from some of the larger UK 100 companies has set the market on the back foot this morning. Support may come at 6300 and then again at 6261 while resistance is still an issue an the 20 day moving average.
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 just like the UK 100 failed to break resistance at its 20 day moving average before breaking below a prior resistance-turned-support level. This level may now provide resistance once again whilst support on the downside may come in around 8692.
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 futures are pointing to a higher open this morning after yesterdays sell-off. Resistance may come around the 20 and 200 day moving averages whilst support for the downside may come around 1643.
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