After blowing through minor support at the 20- day and 40- day moving averages over the last week, chart traders said Tuesday's weak close broke support in the $3.94 per mmBtu area, the 38.2 percent Fibonacci retracement of the move up from the February low of $3.125 to last week's high of $4.444.
LONDON, May 7- European equities nudged higher on Tuesday, bolstered by a crop of better-than-expected corporate earnings and with the German DAX index testing tough technical resistance levels en route to record highs.
It fell as far as $1.3053 after the head of the European Central Bank reiterated the central bank's readiness to cut interest rates again if needed. Initial support for the euro is seen around $1.3024, the 76.4 percent retracement of its April 24- May 1 rally and the 55- day moving average at $1.3021.
*Brent gains 9 percent since year-low of $96.75 a barrel* Asian shares rise following Wall St rally, U.S. data* Brent may drop to $104.30- technicals* Coming Up: Euro zone retail sales; 0900 GMT By Meeyoung Cho and Manash Goswami.
MUMBAI, May 3- Indian shares fell on Friday, retracing from near 3- month highs touched a day before, after the central bank cautioned it had limited room for further monetary easing, overshadowing the 25- basis-point cut in key interest rates, dragging rate-sensitive stocks such as ICICI Bank down.
Low implied volatility and high levels on the FTSE 100 have created an attractive opportunity to bet on more gains in the British index through options, according to the UBS derivatives strategy team. A Reuters poll last month showed the FTSE 100- which is currently trading around 6,459 points- rising to 6,582 points by end-June and 6,750 by end-December.
*Gold to retrace to $1,394- technicals. LONDON, April 24- Gold rose on Wednesday as solid physical demand encouraged speculative buying after the previous session's drop, while support also came from weak German economic data, which fanned speculation the European Central Bank could cut interest rates.
HONG KONG, April 24- China shares climbed on Wednesday after two straight days of losses, as strength in financial counters ahead of a slew of quarterly earnings in the sector helped benchmark indexes retrace about half of Tuesday's losses. The CSI300 of the leading Shanghai and Shenzhen A-share listings closed up 1.9 percent.