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 100 in retracement mode following last week’s rally
The FTSE 100 managed to break below the crucial 7516 support level yesterday, providing a clue that that we are likely to retrace from here.
Keep an eye out for the 61.8% and 76.4% retracements for support, with longs preferred around those levels. We would need to break below 7457 to negate this bullish view.
.jpg)
