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The UK Index this week – 14 Dec

The UK’s UK 100 blue-chip index has bounced off 6800 to keep alive its uptrend from last week’s fresh 2yr low. A break above 6900 could put it in a rising channel towards 7000. While trade concerns may have eased,  Brexit uncertainty has risen. An unhelpful combo as we head into the season’s festivities.

While we look set to close the week +74pts (+1%) Bulls need a break above 6900 if they are to see 7000 and reduce the index’s 10% fall for 2018. Bears need to see a breach of rising support at 6800 for another chance to test 6670.

Our watch levels: Bullish 6900, Bearish 6800

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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.


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Prepared by Michael van Dulken, Head of Research

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