UK100 stocks end recovery

Note: This section contains information in English only.
Source: Dukascopy Bank SA


The recovery of the United Kingdom top 100 stocks continued into August. However, it ended on August 18 when the index bounced off the 7,550.00/7,580.00 zone. Afterwards, short term support was found in the 200-day simple moving average, before the rate passed below it. On August 29, the index was finding support in the 50-day SMA near 7,360.00.

An extension of the ongoing decline might be slowed down by the 7,300.00, 7,200.00 and 7,100.00 levels, before the June and July low level zone at 6,970.00/7,015.00 is reached. Further below, take into account the 2022 low level below 6,800.00.

In the meantime, a recovery of the stock index would first face resistance in the combination of the 7,400.00 level and the 200-day simple moving average. Higher above, the 7,550.00/7,580.00 zone is expected to once again act as resistance. Above these levels, the 2022 high level zone at 7,695.00/7,725.00 could stop a surge.
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