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 100 looks for further gains
The FTSE 100 was one of the standout gainers of yesterday’s session, rising strongly and pushing above its 50-day simple moving average (currently 6778).
Further gains could see it push back in the direction of 6860 and 6900, although yesterday’s high around 6818 could provide some resistance.
A bigger dip is to be expected, so we may see support enter the fray around 6770, but it would take a move below 6730 to really impair the current uptrend off the lows of the month.