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 100 drops below key support
The FTSE 100 has continued to suffer, with the risk-off sentiment ramped up once more thanks to Donald Trump. Now that we have seen the price break below the 7341 mark, this has bearish implications going forward. This now paints any rallies as something to be sold into.
The current bounce we are seeing on the hourly chart is moving back towards that 7341 resistance level, which would look like an area for the sellers to come back into. A bearish outlook is now in play unless we see the price break above 7354.