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 falls back into key support
The FTSE 100 is back at the 7485 support level this morning, as the market broke below the consolidation seen throughout much of the week. The ability to break this level will be key as a bearish signal, with a substantial amount of ground to the downside without notable support.
However, until then we are seeing a bounce, and so it is worthwhile watching to see if the previous support zone around 7516 holds as new resistance. Given this move lower, it makes sense to look for further downside, with a break above 7541 required to negate this view.