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 remains in the range
The FTSE is expected to open back in the range which dominated the second half of last week. Despite price action yesterday pointing towards a rally outside of the 6250-6281 range, this is less reliable than data taking place during open hours.
As such, it is worthwhile simply continuing to play the range until we see a real breakout. With that in mind, any move back down towards 6250 levels seem a good place to get long into the uptrend.
We await a closed hourly candle outside of this range to signify a break and potential spark for the next big move in this index.