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FTSE dragged down as PM Boris Johnson faced a revolt – FTSE 100 Market Outlook – 27/10/2020

SquaredFinancial

The FTSE 100 hit our short entry support target lower, as energy prices tumbled and Boris Johnson faced the revolt of 50 Tory MPs demanding a clear roadmap out of lockdown in the North as measures continued to tighten. Stronger bank earnings managed to provide some support to the index as investors await big oil and pharma earnings along this week. 5800 line in the sand for today’s session, with 5840 closest resistance on upside.

Support: 5750/ 5700
Resistance: 5800/ 5840 / 5885

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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/ftse-dragged-down-as-pm-boris-johnson-faced-a-revolt-ftse-100-market-outlook-27-10-2020
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