This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
FTSE 100 RSI out of overbought territory
With December seasonality now seemingly in action, the default path for the index would appear to be higher.
Upside targets lie around 6068 and then 6114, with 6190 hovering in the far distance.
The relative strength index has pulled itself out of overbought territory, with stochastics following with a bullish crossover as well. It would take a move back below 5945 to suggest that bearish momentum is reasserting itself.