FTSE 100 awaits the Santa rally
FTSE futures were relatively little-changed overnight, but with commodity prices weaker since the Federal Reserve decision, we might see a different picture emerge once trading begins in earnest. The ‘Santa rally’ is, historically, meant to begin today, so it will be interesting to see how seasonality plays out versus a potentially softer tone for indices.
So far the price has shown little desire to move below 6930, but a drop through here could test 6895 and then 6863 in the short-term. Upside targets lie around 6982 and then 7014.