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 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 could see late September low
After a steady grind lower from the record highs of early October, perhaps November will offer something more for the bulls. Certainly, with daily stochastics at levels not seen since mid-September, and price action indicating plenty of support around 6920, we could see a push higher from here, so long as the aforementioned level holds.
An initial area of resistance could be around 7040, while beyond here the next target is 7130. Below 6920 the index could target 6760, the late September low.