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 uptrend coming into big resistance
The FTSE has been trending higher over recent weeks, with the overnight pullback turning higher from the 50% retracement. However, it is worth noting that we have moved into a crucial resistance area, with the January high of 7359 accompanied by a descending trendline. We must see the index overcome these hurdles for this uptrend to continue.
As such, while the recent uptrend remains intact, a convincing break above 7359 or below 7282 would lead the bias for this market.
.jpg)
