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Vaccine Confusion kept FTSE under pressure – FTSE 100 Market Outlook – 24/02/2021


Confusion around AstraZeneca’s vaccine efficacy along with a surging Pound to almost 3-year highs, is keeping the UK blue chip index under pressure, trading below the 20, 50 and 200-period SMA’s on the hourly chart, with upside momentum facing many headwinds in terms of moving averages and resistance levels. Lloyds banking group reported pretax profit well above estimates early today, and oil giants helped keep the index supported while tech continued to struggle. Failure to hold 6580/6550 support level will have the index print lower, while a breach of 6620 resistance and the 200-period SMA will open the door to further upside.

Support: 6580 / 6550 / 6520
Resistance: 6620 / 6650

SquaredFinancial Daily Market Outlook


SquaredFinancial Review

Source: https://www.squaredfinancial.com/ar/learn/daily-market-outlook/vaccine-confusion-kept-ftse-under-pressure-ftse-100-market-outlook-24-02-2021
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