Reuters reports: ‘The 28 EU national leaders, including outgoing British Prime Minister Theresa May, will meet over dinner in Brussels on Tuesday to discuss the succession to Commission President Jean-Claude Juncker and other key jobs, including the head of the European Central Bank, in the light of the election results. Italy’s Matteo Salvini of the League party (which won 34 per cent of the country’s vote) said: “The time has come to totally re-discuss old and outdated rules that have hurt Europe. Otherwise a vote like this cannot be explained” and has already suggested ripping up the budget austerity rules. Austria’s Parliament has sacked Chancellor Sebastian Kurz.
On Sunday, a magnitude 8 earthquake struck in the Peruvian jungle, the strongest in 12 years. On the same day dozens of tremors were detected along the California coast.
DAX 30
A sagging MACD as we continue to hover at the neckline of the huge head and shoulders top, and around the 50 per cent retracement level.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
FTSE 100
Consolidating on first retracement support with precious little bullish momentum.
SHORT TERM TRADER: Square.
POSITION TAKER: Short at 7275; stop above 7400. Target 6875.
S&P 500
Another index holding on first retracement support with precious little bullish momentum.
SHORT TERM TRADER: Short at 2880; stop above 2900. Target 2720.
POSITION TAKER: Short at 2866; stop above 2900. Target 2740.
BRITISH POUND/US DOLLAR
No wonder cable’s struggling against a background of strident political voices.
SHORT TERM TRADER: New little long at 1.2675; stop well below 1.2600. Target 1.2925.
POSITION TAKER: Square.
EURO/US DOLLAR
Retreating ahead of daily and weekly trend line resistance.
SHORT TERM TRADER: Long at 1.1195; stop below 1.1100. Target 1.1400.
POSITION TAKER: Square.
GOLD
With zero momentum it’s not making progress in any direction.
SHORT TERM TRADER: Square.
POSITION TAKER: Square.
