EQUITY ANALYSIS AND NEWS
Price
200DMA
RSI
IG Sentiment
Europe
FTSE 100
7013
7404
59
Mixed
DAX
11341
12333
57
Mixed
CAC 40
5025
5336
57
Mixed
FTSE MIB
18878
21716
55
–
US
S&P 500
2724
2761
59
Bearish
DJIA
25283
25080
58
Bearish
Nasdaq 100
6822
7136
41
–
Asia
Nikkei 225
21654
22485
42
–
Shanghai Composite
2679
2966
70
–
ASX 200
5730
6051
50
–
As of 1720GMT Nov 16th
FTSE 100 | BREXIT UNCERTAINTY TO PERSIST, KEY SUPPORT TESTED
The political backdrop looks bleak for the UK as PM May struggles to bring her party together to support her Brexit plans. Unlike the Pound, this has not led to a large degree of strong selling in the FTSE 100. Partly because the sell-off in the Pound has eased the downside for the more internationally exposure FTSE 100. On the technical front, the 7000 level continues to provide firm support and curb the index of further selling. However, given the uncertainty over Brexit and with a leadership challenge potentially on the horizon, risks remain tilted to the downside. A break and close below 7000 can open a move towards 6950 with a larger move back towards the YTD low of 6840.
