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On Tuesday, UK shares rebounded despite concerns about the Middle East conflict. The FTSE 100, with a global focus, rose by 1.48%. Precious metal miners saw a 0.8% increase as gold prices climbed amid ongoing market uncertainty related to the Israel-Palestine conflict. 

Dovish comments from top U.S. Federal Reserve officials had a notable impact. They suggested that rising yields on long-term U.S. Treasury bonds might discourage further increases in the short-term policy rate, leading to a pullback in Treasury yields and the U.S. dollar. 

Industrial metal miners also advanced by 0.6% due to higher copper prices. This led to significant gains for Anglo American, which rose by over 5%, and Ocado, the top performer in the FTSE 100 with a more than 7% increase following an "outperform" upgrade from Bernstein. On the negative side of the ledger, Spirax-Sarco faced downward pressure as the only stock in the red on that day. This followed JPMorgan's reduction of its price target on the shares from 11,500p to 11,100p. 

Additionally, consumer spending data in the UK indicated that consumers curtailed non-essential spending last month, driven by rising motor fuel prices and the overall high cost of living.

FTSE Bias: Bullish Above Bearish below 7500

• Below 7370 opens 7320
• Primary support is 7370
• Primary objective 7858
• 20 Day VWAP bullish, 5 Day VWAP bullish

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