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Indices Updates by Solid ECN
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[QUOTE="SOLIDECN, post: 214709, member: 80239"] [HEADING=1][JUSTIFY]FTSE 100 - Growth on the back of positive reporting from the retail sector[/JUSTIFY][/HEADING] [JUSTIFY]Last Friday, the Bank of England issued a communiqué following its monetary policy meeting, in which it acknowledged that the country had entered a recession. According to the document, in the second quarter, the national economy declined by 0.1%, and the negative dynamics is likely to continue in the future, since analysts' preliminary estimates contain a scenario with a correction of Gross Domestic Product (GDP) by -0.5%. Department officials believe that the recession could last up to eight quarters, while inflation will peak at around 10.9% by the end of this year. [img]https://i.ibb.co/9HRZn06/ftse.png[/img] The index quotes continue corrective growth, having reached the resistance line of the descending channel. Technical indicators are holding a buy signal that keeps getting stronger: the fluctuation range of the Alligator indicator EMAs is expanding and the histogram of the AO oscillator is forming ascending bars, retreating from the transition level. [B]Support levels[/B]: 7231, 7000 | [B]Resistance levels[/B]: 7383, 7558[/JUSTIFY] [/QUOTE]
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