This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.
Equity markets subdued this morning as expected given much hyped-up US jobs data due out at 1.30pm. UK 100 has lost upwards momentum found earlier on the back of further gains in Asia where Chinese equities have pushed further into bull market territory and not forgetting, of course, BoE’s super Thursday and all the dovishness that came with it.
US Dow Jones futures are a little lower on a stronger Dollar following yesterday’s slightly more hawkish Fed chatter and forecasts for a good Non-Farms print tbat could push the Fed to hike in December, while the DAX also under pressure with the Euro edging up a smidgeon against the Dollar.
Click below to expand sections.
UK 100 still within potential bullish ascending triangle putting a breakout towards 6800 on the cards. However note 200-day MA coinciding with July resistance 6625 (still 250-odd points of upside for the bulls).
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 continuing to maintain uptrend from 9300 end-September lows having settled into a rising channel (or bearish rising wedge?) in late Oct. Additional support now being tickled around 10845, while falling highs since 4 Nov are a concern.
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
US Dow Jones futures still in strong rising trend, pausing at shallow falling highs with a break above putting all-time highs back on the cards. Note RSI testing rising support though looking to return from overbought territory.
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 struggling to better $1110 having bounced off early Oct lows $1105. Daily RSI still 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