FTSE 100 Consolidates Close to Monthly Highs

FTSE 100 trading 0.15% higher at 7,332 close to monthly highs, with investors cautious amid Middle East tensions and the rise in crude oil prices. Supreme Court will start today the discussion on the legality of parliament’s suspension by PM Johnson which will last two to three days.

On the technical side FTSE 100 is in consolidation phase around the 100 and 200-day moving average. The index facing the resistance at 7,350 daily high and then at 7,404 the high from August 5th, a close above could open the way for a move up to 7,700 high, from end of July. On the downside, immediate support stands at 7,302 today’s low, while a break below will open the way for a test of 7,211 the 50-day moving average. More bids will emerge at 7,055 lows from August that the index rebounded twice.

European peers trading lower, the DAX 30 gives up 0.29% to 12,343 while the CAC 40 in Paris trading  0.05% lower at 5,599, In Milan the FTSE MIB is 0.42% lower at 21,881.

In Wall Street, the Dow Jones futures trading 0.15% lower at 27,039, the S&P 500 futures are 0.12% lower at 2,997 while the Nasdaq futures are 0.20% lower at 7,864 signalling a positive start for equities in the other side of the Atlantic.Don’t miss a beat! Follow us on Telegram and Twitter.

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