Technical Analyst, Saxo Bank
Summary: FTSE 100 and FTSE 250 Mid Cap Indices are range bound. Jury's still out for break out direction
FTSE 100 is range bound between 7,700 and 7,800. RSI is showing positive sentiment indicating break out is likely to be to the upside where there will be room up to around 7,947.
Downside break out; there is support at around 7,631 and 7,485 and around 7,405. 200 daily Moving Average will offer some support.
FTSE 250 seems caught in a tighter and tighter range between 19K and 19,500, essentially caught between 200 and 100 Moving Averages. Break out is needed for direction.
If FTSE 250 closes above its very short-term falling trendline breakout of the range is likely to be to the upside with potential to 20K-20,100.
A close below 19,000 could lead to a sell-off down to 18,400-18,000.
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The disheartening cycle of unresolved geopolitical conflicts, the rise of polarizing political parties, and the stagnation of productivity.
Understand China's political landscape in Q4 2023 and the impact on counter-cyclical initiatives, with a focus on the pivotal Q1 2024.
Markets are driven by election optimism, overshadowing growing debt and liquidity concerns. The 2024 elections loom large, but economic fundamentals and debt issues warrant cautious investment.
As US economic slowdown hints at a shift away from exceptionalism, USD faces downside with looming Fed cuts. AUD and NZD set to outperform as their rate cuts lag. JPY gains on carry unwind bets and BOJ pivot.
Uncover the shifting focus in 2024's FX markets towards growth resilience and relativity, away from bond yields and inflation stories.
Embrace the metal revolution on the commodity market in the coming year, with a focus on gold, silver, platinum, copper, and aluminum.
The gloominess of geopolitical conflicts and the repetitive nature of political agendas. What else does 2024 hold in store for us?
The disheartening cycle of unresolved geopolitical conflicts, the rise of polarizing political parties, and the stagnation of productivity.
Understand China's political landscape in Q4 2023 and the impact on counter-cyclical initiatives, with a focus on the pivotal Q1 2024.