- Price action honing in on likely support at 7,463.2
Having fallen 83.91 points in 6 days, Today's session continued the recent downtrend: the FTSE slid down from 7,489.19 to 7,472.17, taking a 17 points loss (0.23%)
The index has been trending positively for about a month. Having set a significant high of 7,672.4 a month ago, the FTSE is trading 9.71% lower.
Technical analysis shows that FTSE could begin to recover as it approaches significant support, now 8.97 points away from 7,463.2. Dipping below could be an indication that further losses are ahead.
Fundamental indicators – United Kingdom RICS House Price Balance (Nov) came out at -25, while a consensus of analysts was expecting -10.
In the meantime, negative performances are also seen in other markets, ASX 200 draws back 0.75% today and closed at 7,229.4.
Other assets are showing positive performances as Hang Seng is trading around 19,450 after ending today's session at 18,800 (up 3.38% today). Nasdaq is trading around 11,049 after ending today's session at 10,959 (up 0.83% today).
Upcoming fundamentals: United Kingdom CFTC GBP speculative net positions is scheduled for tomorrow at 20:30 UTC.