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The UK Index this week – 15 Mar

The UK 100  index of blue-chip companies has finally resumed the long-term rising channel uptrend it began after Christmas.

Having spent the last month consolidating 11% rebound gains from its post-Christmas 2.5 year lows, today’s breakout opens the door for a 4.5% rally back towards September’s 7555 highs.

Bulls need a break above February’s 7260 highs to clear the last remaining upside hurdle. Bears now require a breach of rising support at 7150 if the uptrend is to find itself in jeopardy.

Our watch levels: Bullish 7260, Bearish 7150

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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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