Technical Analysis

European shares close higher. Have gains for the week.

UK FTSE recovers earlier declines.

The European shares are closing higher on the day. The UK FTSE is closing higher after trading sharply lower earlier in the day (-0.95%).  It is closing up 0.07%. 

A look at the closes shows:

  • German Dax, 0.37%
  • France CAC, 0.56%
  • UK FTSE, up 0.07%
  • Spain’s Ibex, +1.06%
  • Italy’s FTSE MIB, +0.68%
 

For the week, the major indices are also closing higher:

  • German DAX, +1.51%
  • France’s CAC, +1.86%
  • UK’s FTSE 100, +0.25%
  • Spain’s Ibex, +2.67%
  • Italy’s FTSE MIB, +2.97%

A quick snapshot of other markets as London/European traders exit for the week shows:

  • Spot gold $-30.57 or -1.68% at $1785.24. That is up from the low for the day at $1774.42, but well below the high for the day at $1813.91. The $1800 level remains a key resistance level
  • Spot silver is trading down $0.80 or -3.42% $22.61
  • WTI crude oil futures are trading down $0.28 of -0.61% at $45.43. The low reached $44.55. The high extended to $46 and and $0.09
  • Bitcoin on Coinbase is trading down $286 at $16,763.48. The low price reached $16,400. The high extended to $17,475.  

In the forex market, the EUR has moved to be the strongest of the major currencies, while the GBP remains the weakest.  

GBPUSD on the daily chart

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