ADS Securities market analysis team shared it’s 12 March FTSE 100 technical outlook. What will move the FTSE 100 index today?
12 March, ADS Securities – The FTSE 100 index continued to trade higher in Friday’s session, driven by gains in mining sector stocks. Moreover, shares of GKN Plc surged, after the company reached an agreement to combine its driveline business with Dana Incorporated.
12 March FTSE 100 Technical Outlook
At present, the index is trading with an upside bias on the 1H chart, reflecting on a bullish momentum in the coming session. Additionally, the MACD indicator is pointing upwards, further affirming the above stance. Important resistance is seen at the 7255 level, followed by the 7285 and 7310 levels.
A break and stability above the latter might trigger further strength in the index. On the contrary, key support is positioned at the 7180 level, followed by the 7150 and 7115 levels. A breach below the latter might prompt weakness in the index.
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