The information 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 Bank S.A. 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 and as such is considered to be a marketing communication.
FTSE rallies up to key resistance
The FTSE has been on an incredible recovery rally, retaking all the initial weekend losses and subsequently breaking up to create a new four-month high this morning.
The 6376 level will be crucial today, as a closed hourly candle above this would likely spark another strong move higher for the index. Otherwise, the inability to break through this level with conviction could see it mark the top for the day.
To the downside, a closed hourly candle below 6337 would provide a more bearish view.