FTSE 100 likely to trade down in weekend markets
The blue-chip index has seen its rally end on Friday, falling 5%, after enjoying a four-day rally this week, with investors able to continue trading the FTSE 100 over the weekend with IG.
The FTSE 100 was on track to finish the week on a high after trading 12% higher over the first four sessions but Friday eroded those gains, with investors opting to take profit as Covid-19 cases continue to rise.
FTSE 100 futures are down 4% implying that the index will trade lower on weekend markets.
FTSE 100: technical analysis
We have continued to see strong gains for the FTSE 100, with a new higher high above 5800 on Thursday.
‘The price found support around 5500 in early trading on Thursday, before bouncing,’ Chris Beauchamp, chief market analyst at IG said. ‘A higher low above 5500 would open the way to 5894 and then on to 6205.’
You can go long or short the FTSE 100 over the weekend with IG using derivatives like CFDs.
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