FTSE 100 Trades Higher As We Approach the Brexit Deadline

FTSE 100 trades 0.40% higher midday at 7,185.19 as Brexit is back in focus after President Macron said the EU would decide at the end of the week whether a deal is possible. Equity traders are cautious ahead of this week’s trade talks between China and US. Last week the U.S. Government announced tariffs on $7.5 billion worth of European exports from cheese to whisky.

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FTSE 100 Support and Resistance Levels

On the technical side FTSE 100 continues the rebound from seven-month lows that started on Friday after stronger unemployment data from US. On the upside the index facing the resistance at 7,186 daily high and then at 7.242 the 200-day moving average, a close above could open the way for a move up to 7,343 the 100-day moving average. On the downside, immediate support stands at 7,133 today’s low, while a break below will open the way for a test of 7,027 the August low. Below this level, the next support comes in at the lows seen on February 2019,  at 6,966.

European indices trading higher today, Dax 30 is 0.56% higher at 12,078 the CAC 40 in Paris trading 0.46% higher at 5,512, In Milan, the FTSE MIB is 0.46% higher at 21,568. In Wall Street, the Dow Jones futures trading 0.17% lower at 26,487, the S&P 500 futures are 0.15% lower at 2,946 while the Nasdaq futures are 0.14% lower at 7,754 signalling a negative start for equities in the other side of the Atlantic.