UK100 stock index recovers

Source: Dukascopy Bank SA


In late June and early July, the UK top 100 stock index revealed a support zone, which surrounds the 7,000.00 mark. During the second half of July trading, the index managed to find enough support in the 6,970.00/7,015.00 zone to start a broad recovery. On July 29, the index passed the combined resistance of the 200-day simple moving average and the 7,400.00 level.

A continuation of the stock market recovery could result in the UK 100 index testing the resistance of the 7,500.00 and 7,600.00 levels. Higher above, the 2019, 2020 and 2022 high level zone is located at 7,695.00/7,725.00

On the other hand, a decline of the stocks is expected to look for support in the 6,970.00/7,015.00 zone.
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