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 gradually selling off
The FTSE is clearly trending lower over the past three trading days. With trendline resistance in play, the continued respect of this would point to further losses. The 6356 level has provided key support over recent weeks, and thus this is certainly a level worth watching out for. A close below 6356 would point towards a move back towards Friday’s low of 6331 and possibly on towards 6312. However, watch out for the 50-hour SMA and trendline resistance around 6376, which if broken could begin a move back towards the 6420 and 6460 area.