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 rallies back into key resistance
The FTSE 100 is pushing higher once again this morning, with the rally past the 76.4% highlighting the desire to challenge the crucial 7772 resistance level.
Should we see a break and hourly close above there, it would signal a bullish reversal of the weakness seen in late May. As such, the ability or inability to break through 7772 will be key to determining the outlook for the coming weeks.