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Bulls defend 7600 with 7575 7506 below | 7679 7705 7720 resistance

#1 · 16th October 2023, 9:34 am

Technical analysis for FTSE 100 for 16th October 2023

US equity futures gained while Treasuries and the dollar slipped, in a sign that traders are weighing the efforts by the US and its allies to prevent further escalation of the Israel-Hamas conflict.

The run for haven assets seen last week eased as markets wait on further developments in the Middle East. Treasury 10-year yields rose five basis points on Monday after dropping 19 basis points last week.

On Friday, the pan-European STOXX 600 index lost nearly 1% and New York's S&P 500 declined 0.5%, although U.S. stock futures pointed 0.2% higher on Monday.