FTSE 100 – Prices, Charts and Analysis:
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A week full of potential volatility pockets will keep traders busy over the next few days. A raft of UK economic data, coupled with central bank decision from Japan, Canada and the ECB, various Fed speakers, EU-UK trade talks and the latest US economic earnings season will offer opportunities across a range of asset markets. This volatility comes against a risk-on market profile that is seemingly ignoring record new COVID-19 cases around the globe. The WHO said this weekend that in excess of 230,000 new coronavirus cases were reported.
The FTSE 100 opened the session slightly better bid after a positive session in the US on Friday and 2% gains overnight in Japan and China. The current trading range remains narrow and will need additional stimulus if it is to clear the 20- and 50-day moving averages and make a run at the 50% Fib retracement at 6,239 and prior short-term resistance between 6,320 and 6,344. Support off Friday’s multi-week low at 5,994 should hold in the short-term.
FTSE 100 Daily Price Chart (February – July 13, 2020)
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