UK100

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Technical Analysis – UK 100 index struggles beneath cloud and negative trend line

Posted on September 14, 2020 at 1:49 pm GMT

UK 100 stock index (Cash) appears to be gradually fading below the very short-term descending line and the Ichimoku cloud. The flattened blue Kijun-sen line promotes a fairly sideways picture in the price, while the capping 50- and 100-day simple moving averages (SMAs) and the cloud’s lower surface suggest negative tensions may intensify in the index. That said, the upward sloping red Tenkan-sen line is reflecting current price attempts to develop further, while the RSI is climbing above its neutral [..]

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Technical Analysis – UK 100 index looking increasingly negative below SMAs

Posted on September 1, 2020 at 3:19 pm GMT

UK 100 stock index’s (Cash) somewhat stalled short-term picture is under strain as the index is encountering growing negative pressures, which are attempting to return a bearish bias. The price is currently testing the 5,850 barrier while the red Tenkan-sen line dips lower. Nonetheless, as things stand, no clear directional signals are reflected in the converging 50- and 100-day simple moving averages (SMAs), while the 200-day SMA maintains a negative bearing. That said, the RSI is falling in bearish territory, [..]

Daily Market Comment – Dollar slips as no stimulus deal in sight yet; Gold pares losses

Posted on August 13, 2020 at 8:34 am GMT

US Treasury yields fall back as Washington no closer to reaching stimulus deal Dollar retreats, helping gold recover some losses; stocks subdued US data, China trade talks on markets’ radar for the next few days Talks on virus relief bill stumble again The Trump administration and Democrats appear no closer to finding a compromise deal on a new virus relief package as the latest efforts to kick start the negotiations prove fruitless. Talks between the two sides have been at [..]

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Technical Analysis – UK 100 index’s correction from 8½-year low at risk

Posted on May 14, 2020 at 2:58 pm GMT

UK 100 stock index (Cash) is losing steam within the Ichimoku cloud after reversing from the 6,230 level, that being the 50.0% Fibonacci retracement of the down leg from the 7,689 peak to the multi-year low of 4,778. Backing the last two-week deterioration in price is the fading red Tenkan-sen line and the falling stochastics. Moreover, the RSI is picking up negative momentum by dipping below its neutral threshold, while the simple moving averages (SMAs) retain their bearish tone, which [..]

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Daily Market Comment – Trump reignites China feud; Stocks fall on data, ECB and earnings blows

Posted on May 1, 2020 at 8:49 am GMT

Markets go into risk averse mood as Trump threatens China with new tariffs Dire data, ECB inaction and mixed earnings further dent risk sentiment Liquidity thin due to May Day holiday; ISM manufacturing PMI coming up Trump’s tough on China rhetoric is back, spooks markets US President Donald Trump raised the prospect of fresh tariffs on China on Thursday as his administration seeks ways to retaliate against China’s handling of the COVID-19 outbreak. The virus has cost more than 60,000 [..]

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Daily Market Comment – Dollar firms, stocks dive again as US virus cases soar

Posted on April 1, 2020 at 8:41 am GMT

Risk sentiment sours again on mounting virus fallout, pulling stocks lower Manufacturing PMIs heighten recession fears; US ISM PMI next in focus Fed tries to ease dollar funding pressure but unable to keep currency down for long Stocks head south as virus panic returns It was a poor start to the second quarter for stock markets around the world as the growing coronavirus pandemic shows no sign of slowing, with the number of cases globally shooting past 800,000 yesterday. Stocks [..]

Daily Market Comment – Markets calmer after deluge of stimulus; dollar retreats

Posted on March 20, 2020 at 10:00 am GMT

Stocks edge higher after a savage week as emergency responses stepped up Dollar pulls back but dash for cash likely not over just yet Pound and aussie bounce higher after BoE and RBA announce QE Stocks stage a comeback; will it last? Global stocks enjoyed a much-needed reprieve from the fierce selling pressure of the past two weeks on Friday as the flurry of central bank and government interventions finally appeared to have some effect in relieving investor anxiety. All [..]

Daily Market Comment – Wall Street rebound falters again; rush for dollar eases slightly

Posted on March 18, 2020 at 9:39 am GMT

US shares rally on Fed liquidity boost but futures turn negative as virus uncertainty lingers Trump pushes for $1 trillion stimulus as governments step up virus response Dollar funding squeeze eases, giving other currencies a reprieve Stock markets unable to stop the bleeding Stocks were on the slide again on Wednesday as yesterday’s sharp rebound on Wall Street proved unsustainable amid fears all countries affected by the coronavirus are headed for a complete and possibly prolonged lockdown. Such a scenario [..]

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Technical Analysis – UK 100 index hovers near four-year low; may resume positive momentum

Posted on March 11, 2020 at 11:29 am GMT

The UK 100 stock index (cash) bounced above the four-year low of 5,698 on Tuesday to lose some ground again on Wednesday despite the Bank of England reducing interest rates by 0.50 bps at an emergency meeting. With the RSI bottoming twice near its recent lows and jumping above the 30 oversold mark and the green %D Stochastic line rising above the red %K line, expectations are for the market to resume positive momentum in the short-term. Nearby resistance to [..]

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Technical Analysis – UK 100 index slumps below long-term supportive trendline

Posted on February 24, 2020 at 2:03 pm GMT

The UK 100 stock index slumped below the supportive trendline that has been holding since the end of 2018, increasing concerns that the market may be changing direction to south. The downside reversal in the RSI, which is currently heading towards its 30 oversold mark, is a negative signal that the bearish action may get new legs in the short-term. Yet, a confirmation could only come below the 50% Fibonacci of 7,132 of the 6,535 – 7,728 up leg. If such an incident materializes, the [..]

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