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. See full non-independent research disclaimer and quarterly summary.
FTSE outlook less positive
The failure to push on past 6400 makes the outlook less optimistic for the time being. With the index testing the lows of Friday’s session around 6348, a move to 6320 would suggest that the upward move has come to an end. Downside targets would then lie around 6280 and onwards to 6220. Unless the sharp drop early on today is reversed we may see bearish momentum build. It would take a move through 6400 to reverse the outlook.