This information has been prepared by IG, a trading name of IG Markets Limited. In addition to the disclaimer below, the material 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 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. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients.
FTSE 100 still struggling below 7720
The FTSE 100 mounted an attempt to push through the 7720 resistance zone, but it fell back in the overnight session. A further drift lower this morning indicates that this area is still proving troublesome.
However, a short-term rising trendline from the 16 July lows around 7564 could see support hold up the price. A close below 7620 would negate this and suggest a move back towards 7560. A push above 7740 is needed to finally break the resistance zone and open the way to 7800 and 7900.