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 rallies sharply after drop into key support
The FTSE 100 sold off sharply at the start of the day, with the price falling into the 7446 support level.
Given the wider downtrend and recent rally into the 76.4% retracement for the index, a break below 7446 would point towards a potential bearish breakdown coming into play. However, for now we need to see either a break above 7558 or below 7446 to provide direction.