FTSE 100 Daily Analysis 17th Nov 2009

The FTSE 100(UK) continues its ascent above and beyond 5300 after the index hit a 14-month closing high.

Investors will eye monthly inflation figures, due at 9:30 a.m. Consumer price inflation is seen by analysts rising to 1.5 percent year-on-year in October, up from 1.1 percent in the year to September

BoE policymaker Andrew Sentance said on Monday that Britain's economy is moving towards recovery and the Bank of England's latest forecasts show the risk of keeping monetary policy too loose for too long.

In the corporate diary for the day, interims results are due from Big Yellow Group, British Land Co, Burberry Group, ICAP, Imaginatik, Intelek, Oxford Instruments and VT Group.

Care UK, EasyJet and Enterprise Inns will present final results.

Tading statements are expected from Avis Europe, Barratt Developments, Informa, Intertek Group and Wellstream Holdings.

Barratt Developments, Smiths Group host AGMs.
Story provided by Business Financial Newswire

Technical Outlook

I have attached a 10 minute chart of the FTSE 100(UKX), it illustrates a bull flag pattern with higher highs and higher lows. The trend is your friend as they say , and it remains intact until we witness sympton of exhaustion, for e.g. a negation of higher highs or we put in a double top.

Support Levels;
5352, 5333, 5323, 5298

Resistance levels;
5362, 5383, 5395