UK Market Overview for Italian and Spanish stock

UK MARKET OVERVIEW
Italian and Spanish stocks under performed firmer equity markets elsewhere in Europe on Thursday, as traders said concerns about this week's European Parliament elections were weighing on Milan and Madrid.  The FTSE opened gap up, but it did not manages to sustain at higher level. During the trading session on Thursday it showed correction and covered the gap but faced strong support from the level of 6800 , showed smart recovery from their and closed almost flat .RSI is managing to trade above 50 Level and facing resistance at 58 level crossing of it can test the level 70.In upcoming trading session FTSE can continue it's major trend crossing of the 6850 level it can test the level of 6900,6950 with support of 6800 level.

Johnson Mathey Plc

RECOMMENDATION Buy
TARGET 3365
STOCK SUMMARY:
The over all trend of Johnson Mathey Plc is bullish on chart &  showing strength for further long. Stock is consolidating at higher levels with positive bias and trading near to resistance level ,crossing of the resistance level stock can show northward journey Trader can initiate the position in the stock above the level of 3310 for the target of 3365 with stop loss of 3170.

CHART FORMATION
Stock is trading with support of falling trend line and consolidating near to the resistance level,crossing of the resistance level can show upside movement
Stock is managing to trade above the 50 DMA  & 200 DMA with positive bias.

INDICATORS:-
RSI is trading  above  the level of 50 and making further good pattern for buy.
MACD & Signal line are given the break out above the zero level line ,positive movement is expected
In ADX ,Positive DI is placed above the negative DI which is confirming the strength of the current trend.


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Technical analysis of EUR/JPY for May 23, 2014

General overview for 23/05/2014 08:10 CET :
Technical analysis of EUR/JPY


The upward corrective wave progression is developing in more complex and time-consuming manner than I've expected, but the overall concept of an upside corrective cycle in wave 2 black is still in progress. Currently the trade market is below the descending golden trendline and only a clear breakout higher above this trendline is bullish and the levels indicated at the beginning of this week might be the target again. On the other hand, breakout below the intraday support at the level of 138.61 might extend the corrective cycle even down to the previous wave b purple low.

Support/Resistance:
138.14 - Wave b purple Bottom
138.62 - Intraday Support
139.12 - Intraday Resistance
139.44 - Weekly Pivot

Trading recommendations: Trading the middle of the corrective wave b is the most difficult to make profits so I would advise to wait for more clear pattern to appear.

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UK MARKET OVERVIEW : 21 MAY

UK MARKET OVERVIEW:

European shares inched lower on Tuesday, held back by Vodafone after the world's second-largest mobile network operator reported 6.6 billion pounds ($11 billion) in impairment costs. UK consumer price inflation (CPI), which climbed 0.2 percentage points in April to 1.8% year-on-year. The FTSE opened on flat note , In first half it tried to show upside movement and made a high at 6851 but in second half it did not manages to sustain at higher level and showed negative movement and test the support level of 6800 and made intra day low at 6793.In upcoming session if it manages to trade below the support level of 6800 and breaching of 6760 level it can show short term correction & can test the level of 6715.

#RSI is trading below the level of 50 with negative bias and consolidating near to 40 level breaching of it can test the level of 30.

Fresnillo Plc

RECOMMENDATION Sell RSI is trading below the level of 50 with negative bias and

consolidating near to 40 level breaching of it can test the level of 30.

MACD & Signal line are given the break out below the zero level line ,negative movement is expected

In stochastic K% is manages to trade below D% with negative bias.

TARGET 801

INDICATORS:-

RSI is trading below the level of 50 with negative bias and consolidating near to 40 level breaching of it can test the level of 30.

MACD & Signal line are given the break out below the zero level line ,negative movement is expected

In stochastic K% is manages to trade below D% with negative bias.

U.K. MARKET OVERVIEW

U.K. MARKET OVERVIEW

European equities were pulled down on Monday by the pharmaceuticals group AstraZeneca, which slumped after rejecting a bid from Pfizer, and by Deutsche Bank's announcement of a capital increase.  The FTSE opened gap down ,made intra day low at 6802 and traded in negative sentiment in first half  but in second half it manages to wipe off it early morning losses and  showed some recovery due to which it manages to closed on moderate loss at 6844. Index is facing strong support at 6800 levels in near future if it sustain above the support level and consolidates it can test 7000 level but breaching of the support level it can show short term correction can test 6740 & 6650 level.
Antofagasta Plc

RECOMMENDATION Buy
TARGET 895

STOCK SUMMARY:
Antofagasta Plc is looking good for buy on charts and showing strength from lower level as stock is consolidating near to resistance level and trading with support of falling trend line crossing of it , stock can show upside movement . Trader can initiates the position in the stock after crossing of it's resistance level i.e. 812 it can show upside movement and can give the target of 895 with stop loss of 775 .

CHART FORMATION
Stock is sustains at the falling trend line crossing of the trend line can show upside movement.
Stock is managing to trade below 50 DMA and one can face the hurdle at 200 DMA at 846 , Crossing of it can show the level of 895.

INDICATORS:-
RSI is trading  above  the level of 50 and making further good pattern for buying once it can cross the level of 60 it can test the 70 level in near future.
MACD & Signal line are given the break out above the zero level line ,positive movement is expected
In stochastic K% is manages to trade above D% with positive bias.

LATEST MARKET OVERVIEW

LSE MARKET OVERVIEW:

Corporate takeover activity propped up European equities on Friday, allowing key indexes to recover after a sell-off in the previous session caused by weak economic data in Portugal and Italy. The FTSE last week managed to cross it's life time high and made a high at 6896, through out the week index sustain at higher level showed short term correction but face enough support at 6800 level ,showed bounce back from the level .RSI is sustains above 60 level with positive bias and having scope to test 70 level ,In near future if it manages to sustain above 6800 level it can test 7000 level in upcoming trading session.

RECOMMENDATION Sell

TARGET 122

CHART FORMATION

Stock has given the break out of trend line and consolidating near to support and forming inverted flag pattern.M

Stock is managing to trade below 50 DMA & 200 DMA with negative bias.

INDICATORS:-

RSI is trading below the level of 50 with negative bias.

MACD & Signal line are given the break out below the zero level line ,negative movement is expected

In ADX , negative DI is placed above the Positive DI.

FXStreet (Córdoba) - Markets Overview

FXStreet (Córdoba) - Markets opened mostly lower in Europe Monday weighed by the cautious mood and M&A activity.

UK pharmaceutical company AstraZeneca rejected an increased offer from US giant Pfizer. AstraZeneca shares dropped 14% on the news, weighing on the UK FTSE 100, which fell 0.50%.

FXStreet (Córdoba) -- Markets opened mostly reduced The european countries Wednesday considered with the watchful spirits and M&A task.

BRITISH pharmaceutical organization AstraZeneca declined an elevated offer coming from US huge Pfizer. AstraZeneca gives fallen 14% about the news, evaluating about the BRITISH FTSE 100, which often chop down 0. 50%.

Elsewhere, the Stoxx The european countries 600 listing fallen 0. 31%, soon after shutting better regarding 5 consecutive weeks with Fri. The particular German DAX has been decrease 0. 26%, the France’s CAC forty five chop down 0. 14% as you move the Spanish Ibex lose 0. 09%.

US futures will also be aiming for any lower starting, with the DJIA as well as the SP500 possessing touched fresh in history highs the other day. Primitive essential oil futures increased above $102. 18 any clip or barrel, hitting any 4-week excessive, however helped with the Ukraine scenario. Rare metal has been likewise inside the rise, possessing climbed rear above $1300 an whiff.

Inside FOREIGN EXCHANGE market, the dollar has been any little lower through the aboard with movements subdued because people "wait-and-see" ahead of economic activities after this kind of week.