FTSE 100 Daily Analysis For 19th Oct 2009
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The FTSE 100(UKX) failed to hold the majority of its gains made during week as weakness on the FTSE mirrored a drop on Wall Street after disappointing corporate results from Bank of America and General Electric earlier in the session.
In Asia today, the Nikkei was down 32.84 points at 10,224.72, while the Hang Seng ended the morning ahead 85.7 points at 22,015.6.
Banks will likely be in focus as Lloyds fund-raising ambitions continue to cause concerns.
Oil still remains above the $79 region which should help the oil producers.
Technical Outlook
The FTSE 100(UKX) failed to hold the majority of its gains made during week as weakness on the FTSE mirrored a drop on Wall Street after disappointing corporate results from Bank of America and General Electric earlier in the session.
In Asia today, the Nikkei was down 32.84 points at 10,224.72, while the Hang Seng ended the morning ahead 85.7 points at 22,015.6.
Banks will likely be in focus as Lloyds fund-raising ambitions continue to cause concerns.
Oil still remains above the $79 region which should help the oil producers.
Technical Outlook
The hourly chart indicates a double top failure at 5273 and a potential change in direction as we have started to put in a bearish formation, as the series of higher highs and lows have been negated.
Support levels;
5190, 5176 , 5160 , 5152, 5106
Resistance Levels;
5213, 5225, 5252,
