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 to target all-time highs?
Yesterday saw an eventual pullback from 7200 on the FTSE, but over the past 12 hours, the 7160 area has acted as support. We have seen dip buyers coming back to push the market higher in early trading.
Now we look to see if the price can move through 7200. If so, the next targets become 7276 and 7348, with the record-high at 7359 then in sight. It will need a firm close below 7130 to suggest the bounce has run its course.