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UK FTSE support & resistance forecast

UK Stock Market FTSE very close to important support
Patel (5/26/2008 5:10:59 PM)

UK Stock Exchange FTSE very close to important support 6087.

This is a very important support, once market (FTSE)close below this level next support is 5831 and 5414 and up side resistance is 14392. Write now many indicator indicating market is oversold so it can jump from 5831 or 5414.

Market Trading At New Highs, Virus Fears Ease, EU Data Reassures Investors
(Fri, 24 Jan 2020 13:54:29 +0000)
Global markets rebound as fear of the Wuhan Virus dissipates.
British stocks surge as market fears over China virus ease despite rising death toll
(Fri, 24 Jan 2020 13:03:00 +0000)
The FTSE 100 surged on Friday as fears over the coronavirus in China were eased by the World Health Organization.
European Stocks Surge as World Health Organization Calms China Virus Fears
(Fri, 24 Jan 2020 11:25:00 +0000)
European stocks rebounded sharply on Friday as the World Health Organization eased concerns over the coronavirus crisis in China.
European Shares Higher on Dampened China Virus Worries; PMIs Not So Bad
(Fri, 24 Jan 2020 09:46:11 +0000)
On Thursday, ECB President Christine Lagarde told a news conference that risks to growth in the Euro Zone remained tilted to the downside.
Queen’s Banker Is Bullish on ‘Unloved’ U.K. Stocks After Brexit
(Fri, 24 Jan 2020 09:00:00 +0000)
(Bloomberg) -- Coutts & Co., the private banker to Queen Elizabeth II, is famed for its ornate London offices and white-glove service to wealthy clients.But it isn’t above some bargain-hunting, and these days the bank is looking for value close to home: the stocks of mid-size British companies.The reason is Brexit. With U.K. Prime Minister Boris Johnson passing his withdrawal agreement this week and the country poised to depart the European Union at the end of the month, uncertainty surrounding the process is beginning to clear. That has made Coutts bullish on smaller manufacturers and other U.K. firms that may benefit from rising confidence in the domestic economy.“Ever since the referendum passed in June 2016, U.K. equities have been unloved, undervalued, and under-owned,” said Monique Wong, senior portfolio manager at the 328-year-old bank. “But a big part of the Brexit story is now behind us and mid-caps have been trading at a bigger discount than large caps.”Work AheadEven so, there’s still work ahead as officials in London and Brussels hash out a new trade agreement. Johnson’s insistence on completing a deal by the end of the year may stoke market risk if months tick by with little progress. Should sterling fall as a result, that could favor the stocks of larger U.K. companies that rely on exports for growth.Still, many investors have seen enough to make them buyers of smaller British equities, Wong said. Last year, the FTSE 250 index of mostly mid-size companies returned 29%, outpacing the 17% advance of the large-cap FTSE 100. Between June 24, 2016 -- the day after the Brexit vote -- and the end of 2018, it was the export-heavy FTSE 100 that outperformed.Coutts, a unit of Royal Bank of Scotland Group Plc, is also high on another unloved group: stocks from mainland Europe. As fears of a U.S. recession dissipate and the trade war between Washington and Beijing eases, demand may rise for European manufactured goods and lift equities, especially in Germany, Wong said.“Europe is a leveraged play on the global economic cycle,” she said.Coutts’s growth strategy portfolio, which combines stocks, bonds and alternative assets, returned 17% last year.To contact the reporter on this story: Edward Robinson in London at edrobinson@bloomberg.netTo contact the editors responsible for this story: Pierre Paulden at, Steven Crabill, Peter EichenbaumFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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