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.
Will FTSE support hold?
The FTSE managed to bounce from the crucial 7130 support level yesterday, with price rallying into the 7176 level time and time again. We would need to see price break from this current decision zone for a signal of the next move. That means an hourly close below 7130 would provide a bearing continuation signal.
Conversely, an hourly close above 7176 would point towards a rally into the 7200 region. We would subsequently require a break through 7222 to signal an end to the recent downtrend.
.jpg)
