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 could point towards market bottom
The FTSE 100 managed to rebound without breaking below the 6919 low last week, with the price rising above the 7169 resistance level.
The potential higher low brings about a considerable possibility that we have seen a bottom for the FTSE 100, with a rally above 7312 providing greater confidence that this is the case. For now, with the price consolidating, we need to see whether the price will retrace the Friday evening rally or simply push onwards from here. Conversely, a break below 6979 would raise the possibility of another sell-off for the index.
.jpg)
