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Traders remain cautious over the prospect of reopening economies: FTSE 100 Market Outlook – 12/05/2020


Fundamental Highlights

The FTSE ended barely higher on Monday as markets turn cautious over the prospect of reopening economies amid the ongoing health crisis.
Traders will focus on coronavirus numbers which have recently climbed in Asia and suggests that countries may have to maintain lockdown strict lockdown measures.

Technical Analysis

The FTSE closed with a marginal gain of 4 points at 5939 on Monday as the index settled off its intra-day high at 6000.
So long as price holds above 5890, there is a chance we continue to see the FTSE trade higher with a sustained move above 5950 required to re-test resistance at 6000.
Failure to hold above 5890 would lead FTSE towards the lower levels of support at 5840 and 5800.

Support: 5890 / 5840
Resistance: 5950 / 6000

SquaredFinancial Daily Market Outlook


SquaredFinancial Review

Source: https://www.squaredfinancial.com/learn/daily-market-outlook/traders-remain-cautious-over-the-prospect-of-reopening-economies-ftse-100-market-outlook-12-05-2020
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