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 rebound likely to fall short
The FTSE 100 is regaining ground, following on from a drop below trendline support. That coupled with the fall below the 7070 mark points towards this current rally being a likely retracement of the fall from 7175.
With that in mind, there is bound to be further upside, this is expected to fall short below 7070. As such, look out for a potential sell-off from Fibonacci resistance, with the 7141 and 7121 levels worth watching from that perspective. A move above 7175 would be required to negate this bearish outlook.
.jpg)
