Quote from Nick on 2nd July 2026, 9:23 am

Technical analysis for 2nd July 2026

We head into Thursday’s session with markets looking a little more cautious after yesterday’s mixed price action. The DAX managed to hold up relatively well, the FTSE softened slightly, and the S&P 500 lost a little momentum as traders trimmed risk ahead of the next round of US data. Gold remains under pressure and still looks like the weakest market of the four from a trend perspective.

For me, the broader picture hasn’t changed too much. I still favour buying pullbacks in the major equity indices while the structure remains constructive, but I’m also mindful that after the recent run higher we could see more two-way price action rather than straight-line trend days. Gold continues to look vulnerable unless buyers can prove otherwise.

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