FTSE 100 – The Stalemate Continues as BoE Meeting Approaches
The footsie has been a very choppy market the last few weeks, range-break pending; BoE meets tomorrow, but doesn’t appear likely to be the catalyst to do it.
The footsie has been a very choppy market the last few weeks, range-break pending; BoE meets tomorrow, but doesn’t appear likely to be the catalyst to do it.
Gold prices have run into congestion near $1357. We believe the up trend is incomplete and may see another trend higher towards $1375.
The seeds of change may be blooming as the IEA sees the strongest global oil-demand growth in two years as price approaches $50/bbl.
Later in the morning we have the Bank of England policy meeting, and with that we will take a look at projected price movement as per the options market.
The Nikkei 225 confirmed its range bottom last week, only to power through the top. But it’s already looking a little tired from its exertions. A waiting game could be prudent.