FTSE 100 bounces again
The index has bounced off 5900 once again, repeating the trick of late September. If the price can sustain a move through 6000 then we may have seen an end to the December slump, and will push the index back towards 6300,
This, however, may be a short-term bounce before the next drop, but it will tick the ‘Santa rally’ box nicely. A move through 5900 reignites the downward trend and puts the index on course to test the August lows around 5780.