FTSE Enjoys Successful Quarter
Friday saw the FTSE 100 round out a successful, if turbulent, quarter. The UK’s leading index has benefited from the Brexit and the recent weakness of the pound, to trade around the 7,300 - 7,400 mark over the end of March. The next significant number for the index is 7,450. If the index can break through that resistance, it could break 7,500 - and there are some analysts who believe that the expectation of 8,000 is not unreasonable by the summer.
Meanwhile, there is support at the 7,275 level. The index is only just trading above this position in objective terms, but there’s a lot of movement either way and room for traders to hold long positions.
The FTSE 100 ended the trading quarter on 7,369 - and it is expected to open up higher when the first trading day of April begins. If it can maintain optimism for a time then we can expect to see a strong upward trend, but any weakness could see the index break the upward trend that we’ve enjoyed since May last year. There’s not a lot of leeway either way at this time.
These figures are, primarily, based on technical readings - and there’s no shortage of fundamentals guiding the markets right now. The more we learn about how the EU, and industry, will respond to the triggering of Article 50, the more likely it is that we will see some massive changes in not just the FTSE 100 but other indices too.