The resistance in the Eyes like Upside Persists

The FTSE 100-Price Analysis and News

• FOMO Processes in Support of Global Equities More
• The FTSE 100 index Gains, Possibly Capped at 6000
• The EU, UK, Trade, Talk about the Results of the Key Management of the

Today has been somewhat moderate the session, with equity markets trading with modest gains, despite the rising uncertainty of the economic situation macro-economic situation. The risk of a second wave of corona virus cases, savings to re-open it. Aside from that, tensions between the usa and China continues to linger in the background. That said, the equity markets have a hero relatively well, as the upside momentum persists.

The FTSE 100 index Technical Levels

The FTSE 100 index has continued to trade within a relatively tight range, as last week’s break above the 38.2% retracement Fibonacci of the whole, the index is on course for a push towards the 6000 level. As such, the FTSE 100 eyes near-term resistance at 6000-15, which may limit further upside. The Failure to break above would be to place the focus on 5955, in the short term, before moving on to the psychological 5900 area.

However, with that said, the absence of fresh negative catalysts can induce FOMO cash flows to continue to support equities higher, which would put more emphasis on 6130, which also coincides with the 50% retracement of Fibonacci.

The UK-specific front, we are keenly awaiting the outcome of the european UNION united KINGDOM of trade negotiations. As a reminder, in the state of the round of negotiations has seen little in the way of progress, therefore, is another round of the little progress that may see brexit increased risk, and thus to put pressure on the UK assets.

The FTSE 100 Price Chart 1-Hourt period of Time

Source: IG

The FTSE 100 Price Chart, the Time Frame of

— Written by Justin McQueen, a Market Analyst

Follow Justin on Twitter @JMcQueenFX