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guardian stockbrokers FTSE100

FTSE 100 (INDEXFTSE:UKX) Analysis

FTSE 100 (INDEXFTSE:UKX)

Guardian Stockbrokers today wrote: Having seen the index pull back at the end of last week, we continue to expect further weakness in the coming few days. 6300 has stemmed losses over the past week or so, but a close below here will open the way to 6246 and then down to the 200-day SMA at 6206. Bounces may continue to be sold, so any rally towards 6350 or even to 6375 might encounter fresh selling pressure. At present the index looks oversold intra-day so a bounce cannot be ruled out. IT would need a close back above 6350 to suggest that the weakness of the past few sessions has run its course.

The FTSE 100 is currently trading 0.61% below today’s opening price of 6,310.44 at 6,272.24 which is 38.20 points. Today’s range so far is 6,262.64 – 6,324.60 with a 52 week low of 5,499.51 and a 52 week high at 7,122.74. All prices are in GB pence. The time of writing is 12.32. date 25/04/2016.

 

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