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 breaks higher once more
The FTSE has broken to a new high this morning, confirming the bullish outlook held in line with the long term uptrend. The price is now pulling back and it makes sense to use retracements as buying opportunities once more.
That being said, given the sharp move higher and chance of a pullback, coupled with the impending payrolls figures and weekend, it may make sense to just look for short-term moves. As long as we do not break below 7496, then a bullish view remains in play.