FTSE 100 could extend losses in weekend markets

The blue-chip index showed promise at the start of the week, but its early rally ran out of steam as the days went on, with investors able to continue trading the FTSE 100 over the weekend with IG.

The FTSE 100 showed promise at the start of the week, with the index closing 3% higher on Tuesday.

But the blue-chip index’s bounce fell flat as the week continued, with early gains completely eroded, sliding 4% in early morning trading on Wednesday.

The FTSE 100 was unable to recoup its losses ending the week 1.5% lower than where it started, with the index capable of extending its losses in weekend markets available with IG.

Maximise your opportunities to profit by trading on the weekend with IG. We offer 24/7 trading on GBP/USD, global indices and a range of major cryptocurrencies.

FTSE 100: technical analysis

The FTSE 100 bounced from the overnight lows yesterday, but was unable to maintain forward progress, hitting a lower high around 5550, according to Chris Beauchamp, chief market analyst at IG.

‘This leaves the series of lower highs from 26 March intact, and with the index turning lower in the early part of Friday we may see a retest of 5340, an area of support that has held twice this week,’ Beauchamp said.

‘Below this 5170 is the first target. A more bullish view requires a push above 5550, to then head towards 5700,’ he added.

You can go long or short the FTSE 100 over the weekend with IG using derivatives like CFDs.

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