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Market Analysis

Home » Featured » FTSE100 Records The Best Winning Streak In Two Year

FTSE100 Records The Best Winning Streak In Two Year

Posted by FXTimes in Featured - November 2nd, 2015 5:23 am GMT


2nd November: 12:30 AM EST – The FTSE100 closed on Friday at 6,361.09, down 0.54%, but up 4.9% in October, its best monthly gain in over two years.

The mining sector posted modest gains, with Glencore leading the advance and closing the day 1.53% higher, but down 5.6% for the week. The BG Group, however, closed 0.49% lower as the energy producer raised its full-year production guidance as it reached another output record during the third quarter.

Technically, the daily chart shows that the index continues trading below a bearish 100 DMA, whilst the technical indicators are entering negative territory, with a tepid bearish slope, maintaining the risk towards the downside.

In the 4 hours chart, the 20 SMA turned south above the current level, whilst the technical indicators are also below their mid-lines, albeit lacking a clear directional strength.

Support levels: 6,330 6,270 6,215

Resistance levels: 6,380 6,445 6,490

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