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 uptrend coming back into play
The FTSE is showing signs of resurgence this morning, with the price breaking above the 7365 level following a failure to break below the 7338 low (and 38.2% retracement).
This points toward the potential for this current move lower to provide a buying opportunity for the index. Thus, look out for a move into the 7346-7348 (70%-76.4%) support zone as a potential area for longs.