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 turning lower within range
The FTSE is turning lower once more this morning, coming off the back of a rally in towards the top end of a near week-long range for the indice. The inability to break through 7420 highlights the continued creation of lower highs at the top end of this consolidation, with the lows flat lining around 7361.
An hourly close below 7397 would point towards a potential move back to the bottom threshold of this range. We need a break outside the 7431-7361 zone to highlight the possibility for a move out of this range.