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FTSE Weighed Down amid Fading Hopes for a Brexit Deal – FTSE 100 Market Outlook – 23/07/2020


3rd consecutive close in the red for The FTSE 100 as it reached our short entry support target at 6220 while we print around the 200 period SMA in early session today. On one hand, fading hopes for a Brexit deal is weighing down on the index while a rally in US equities on the back of further stimulus promises is keeping risk on sentiment alive. An hourly close above 6220 resistance level, which coincides with the 200 period SMA, will favor higher prints with 6270 as the closest resistance target.

Support: 6160 /6100
Resistance: 6220 /6270 / 6325

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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/ftse-weighed-down-amid-fading-hopes-for-a-brexit-deal-ftse-100-market-outlook-23-07-2020
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