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 needs to push above 7550
The FTSE rallied sharply on Friday, but we now need to see if it can push on above that session’s highs at 7550. Above here the next stop would be 7600 and the all-time highs.
A drop back to 7400 would raise the risk of a test of the 50-day simple moving average (SMA) at 7377, even though we saw that on Thursday night/Friday morning and buyers came in to defend it. Below 7370, the index could test 7260 then 7090.