Getting latest data loading
Home / Blog / blog / The UK Index this week – 2 Nov

This report is not a personal recommendation and does not take into account your personal circumstances or appetite for risk.

The UK Index this week – 2 Nov

After a flirt with 2018 lows, the UK Index rebounded by almost 350pts/5%, and, more importantly, regained the channel from which it fell at the beginning of the month.

We may have back-peddled from today’s 7195 recovery highs, but the Bulls are still motivated by the strength of the rebound and the prospect of revisiting the old channel ceiling at 7400; 4% upside from here.

Sceptical bulls, on the other hand, point to the long tails on this week’s candlesticks, highlighting indecision at the lows and inability to hold/better the highs, implying potential for a retrace of the current rebound to revisit recent lows; 3.8% downside.

Our watch levels: Bullish 7150, Bearish 7100

« Back to Category

This research is produced by Accendo Markets Limited. Research produced and disseminated by Accendo Markets is classified as non-independent research, and is therefore a marketing communication. This investment research has not been prepared in accordance with legal requirements designed to promote its independence and it is not subject to the prohibition on dealing ahead of the dissemination of investment research. This research does not constitute a personal recommendation or offer to enter into a transaction or an investment, and is produced and distributed for information purposes only.


Accendo Markets considers opinions and information contained within the research to be valid when published, and gives no warranty as to the investments referred to in this material. The income from the investments referred to may go down as well as up, and investors may realise losses on investments. The past performance of a particular investment is not necessarily a guide to its future performance.

Prepared by Michael van Dulken, Head of Research

Comments are closed.

Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
.