EU HEALTHCARE: AstraZeneca (AZN): Obesity Collaboration

• RES 4: 92.31 High Nov 12
• RES 3: 92.00 Round number resistance         
• RES 2: 91.93 High Nov 27
• RES 1: 91.78 High Dec 17      
• PRICE: 91.21 @ Close Dec 30
• SUP 1: 90.50 Low Dec 16       
• SUP 2: 90.28 Low Nov 21  
• SUP 3: 90.00 Round number support    
• SUP 4: 89.86 Low Nov 19 and the bear trigger     

Recent price action in Gilt futures highlights 90.50, the Dec 16 low, and 91.93, the Nov 27 high, as two important short-term directional triggers. A clear breach of support at 90.50 would signal scope for a deeper retracement towards 89.86, the Nov 19 low and a bear trigger. For bulls, a stronger resumption of gains and a breach of 91.93, would instead signal scope for a climb towards resistance at 92.55, the Nov 11 high.

• RES 4: 7080.92 0.764 proj Nov 21 - Dec 11 - 18 price swing  
• RES 3: 7021.79 0.618 proj Nov 21 - Dec 11 - 18 price swing
• RES 2: 7014.00 High Oct 30 and the bull trigger
• RES 1: 6994.00 High Dec 26   
• PRICE: 6929.50@ 07:06 GMT Dec 31
• SUP 1: 6909.50/6858.92 20- and 50-day EMA values
• SUP 2: 6771.50 Low Dec 18 and a key support 
• SUP 3: 6684.50 Low Nov 24  
• SUP 4: 6583.00 Low Nov 21 and a reversal trigger  

Short-term weakness in S&P E-Minis appears corrective. A key short-term support has been defined at 6771.50, the Dec 18 low. A break of this level is required to signal scope for a deeper retracement and would highlight a possible short-term reversal. For bulls, sights are on key resistance at 7014.00, the Oct 30 high. Clearance of this hurdle would confirm a resumption of the primary uptrend.

The Chinese Commerce Ministry has announced a 55% additional tariff on beef imports from certain countries, including on the US.

• The full press release is here
• “The safeguard measures will be in effect for three years, from January 1, 2026 to December 31 , 2028. The safeguard measures will be gradually relaxed at fixed time intervals during the implementation period .”
• "The State Council Tariff Commission made a decision based on the Ministry of Commerce's proposal to impose additional tariffs on imported beef beyond the prescribed quantity on the basis of the currently applicable tariff rate . The additional tariff rate is 55% .”
• “For products originating from developing countries (regions), safeguard measures are not applicable if their import share does not exceed 3% , and the total import share of these countries (regions) does not exceed 9% “
• Major countries impacted by the tariff ruling:
  • Brazil
  • Argentina
  • New Zealand
  • Australia
  • The US