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Bears in charge with 7423 7447 resistance | Bear Tuesday | 7396 7360 support

#1 · 7th November 2023, 10:09 am

Technical analysis for FTSE 100 for 7th November 2023

The FTSE 100 never strayed more than 41 points from its starting position, closing 0.03 points up at 7,417.76. Funnily enough it looked like the 7400 to 7440 range was all that was going to happen when I did the analysis yesterday morning and that sure enough played out.

Inflation in Britain will soon fall in line with the lower levels seen in the rest of the world, the Bank of England’s Chief Economist Huw Pill has said. Mr Pill said there will be a “sharp further fall” in inflation rate to below 5pc in October, making Britain’s rates closer to those in the eurozone and the US.