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 rally pauses below key resistance level
The FTSE 100 is turning lower this morning, following on from a rally through trendline resistance.
While the recent break through the 7010 swing high and trendline resistance are bullish signals, a move above the 7070 mark would provide a much more reliable bullish outlook. For now, we look likely to provide further downside, with the failure to break 7070 providing us with a chance that we could still see another low created. In any case, the near-term outlook remains bearish for now.
.jpg)
