FTSE 100 Daily Analysis 18th Nov 2009

The FTSE 100(UKX) traded lower yesterday and remains weak this morning too. The release of the minutes of the BoE revealed a 3-way split, with 7 members voting for a QE rise of $25 bln, one member voted for no raise (Dale) and one member voted for an increase of 40 bln.

In the corporate diary today, interim results are due from Anglesey Mining, Business Post Group, Experian Group, Land Securities Group, Mothercare, New World Resources, Rensburg Sheppards and UK Mail Group, while final results are due from United Drug.

Technical Outlook

I have attached a 10 min chart of FTSE 100(UKX). The market is currently trading sideways in the range of 5370 - 5345, although it did succumb to selling towards the afternoon session yesterday.

Support levels;
5350, 5333, 5297,

Resistance levels;
5365, 5370-5374, 5382, 5395