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The UK Index this week – 19 Oct

After a painful bruising the UK Index received the previous week, we have mostly seen sideways movement on the benchmark index since Monday. The index has been trading in a fairly tight 6960-7098 range, though London’s blue-chips are off their worst October levels.

As the week comes to a close, traders are looking for a 136pt rebound from October’s 6923 lows, as the Bulls are looking for a break above 7098 to escape the range.

Bears on the other hand will once again try to test the psychologically significant 7000 level to continue September-October downtrend.

Our watch levels: Bullish 7100, Bearish 7000

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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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