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 looks to break higher once more
The FTSE 100 is moving higher once more this morning, following a pullback to the 50-period simple moving average (four-hour) and the 6624 level (July 4 resistance level and 38.2% pullback). The key here is whether we see an hourly close above 6744 to spark another leg higher.
As such, a bullish view remains in play, with a new bullish signal coming with an hourly close above 6744. We would need to see an hourly close below 6430 to negate this view.