FTSE 100 Daily Analysis- 30th Nov 2009

The FTSE 100(UKX) opened strongly this morning taking a lead from strong gains in Asia this morning, with Cadbury a likely focus on renewed bid chatter. The index failed to get past the high of friday's session at 5270.

Crude oil traded at $76.45 a barrel on Nymex.

Gold settle at $1,172 an ounce.

UK Money Supply, Consumer Credit and Mortgage Approvals data is scheduled for release at 9:30am.

In the corporate diary for the day, interim results are expected from Aberdeen Asset Management, Creston, First Property Group, Goldshield Group, Ishaan Real Estate, May Gurney, Stratic Energy Corporation and Trifast.

Thomas Cook and Pursuit Dynamics report final results.

A trading statement is expected from St. Ives.

Infoscreen Networks, JSM Indochina, Jubilee Platinum, Metal-Tech, Nyota Minerals and St Ives host AGMs.

Technical Outlook

The FTSE 100 (UKX) has at the double top at 5270 level and has not put in a higher high. The chart illustrates that the upward sloping trend line has been negated and will now act as resistance.

Support Levels;
5220, 5210, 5195 , 5100

Resistance Levels;
5250 , 5270 , 5290