This information has been prepared by IG, a trading name of IG Australia Pty 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 rallies after yesterday’s pullback
The FTSE 100 rally came under pressure yesterday, with the price falling sharply despite early gains. Fortunately we didn’t see the price break below 7371, with the market turning higher once more this morning.
This continues to look like a bullish phase for the FTSE 100, with the creation of higher lows pointing towards a break higher. Given the lower highs, a bullish confirmation signal would come in the eventuality of a move up through 7439.
.jpg)
