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FTSE 100 favoring further upside after today’s CPI data – FTSE 100 Market Outlook – 16/09/2020

The FTSE 100 hit our long entry resistance target at 6100 in yesterday’s session after better than expected Chinese industrial output data along with speculation about more stimulus to support the labor market on the back of Chancellor Sunak’s remarks which lifted market sentiment . Just released stronger than expected CPI data out of the UK is keeping the index above our support at 6050, favoring further upside on an hourly close above 6100 with 6160 as the next resistance target.

Support: 6050/ 5985
Resistance: 6100/ 6160

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Wednesday, 16 Sep, 2020 / 7:36

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Source : https://www.squaredfinancial.com/learn/daily-market-outlook/ftse-100-favoring-further-upside-after-todays-cpi-data-ftse-100-market-outlook-16-09-2020

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