This information has been prepared by IG, a trading name of IG Australia Pty 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 heading down?
The FTSE price was knocked back on Friday from highs of around 7370, and, so far this morning, the same appearsto be happening.
If bullish momentum has fizzled out, we need to see a push below 7334, and then down to 7310 in the first instance. Further targets on the downside lie around 7253, the 50-day simple moving average (SMA), and then down to 7218 and 7174.
.jpg)
