The information 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 Bank S.A. 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 and as such is considered to be a marketing communication.
FTSE 100 consolidating within triangle formation
The FTSE 100 is trading within a symmetrical triangle formation this morning, as the index consolidates off the back of last week’s sell-off.
A break above 7198 would complete a double bottom and point towards further upside. However, until that happens, there is still a chance we could simply turn lower once more. As such, it makes sense to watch out for the breakout to guide us from here, with an hourly close above 7198 pointing towards further near-term gains, while a break below 7117 would point towards a more bearish scenario.
.jpg)
