FTSE 100 Daily Analysis 25th Nov 2009
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The FTSE 100(UKX) stalled once again as it failed to reach the 5400 region. The market has gapped higher this morning as US futures were stronger over night.
The FTSE 100(UKX) stalled once again as it failed to reach the 5400 region. The market has gapped higher this morning as US futures were stronger over night.
Crude oil traded at $75.95 a barrel on Nymex.
Gold settled at $1,175 an ounce.
UK GDP, Balance of Payments and Government Spending data is due for release at 9:30am, along with the Producer Price Index.
In the corporate diary, interim results are due from Acal, WS Atkins, GB Group, Johhnson Matthey, Liontrust Asset Managament, London Stock Exchange Group, QinetiQ Group, Speedy Hire, Telecom Plus, Queen's Walk Investment, Sportingbet and United Utilities Group.
Final results are scheduled from Britvic, Compass Group, Greencore Group, GW Pharmaceuticals and Superglass Holdings.
Aberdeen Asian Smaller Companies Inv Trust, BlueBay Asset Management, Finsbury Food Group, Sabien Technology and Thor Mining host AGMs.
Technical Outlook
The FTSE 100(UKX) failed at the double top at 5375 yesterday which tends to signify an exhaustion in the current trend. The chart I have attached is a 60 min chart which illustrates a wedge formation. The range is getting narrower with particular attention being paid to the upper resistance line for a break out to 5500.
support levels;
5340, 5334, 5322 , 5316
resistance levels,
5360, 5376
