FTSE To 7366 As Coronavirus Fears Persist?
Fiona Cincotta January 23, 2020 12:29 PM
FTSE drops 4th straight session as coronavirus fears continue.
The FTSE dropped sharply on the open and remained under pressure across the session, extending losses after Wall Street also opened lower. Fears over the spread of China’s coronavirus continue to knock stocks with exposure to China and weigh on risk sentiment.
Levels to watch:
The FTSE dropped 0.8% across Thursday, hitting a 5 week low of 7501 in its 4th straight session of losses.
Immediate support can be seen at 7455/ (low 8th Jan & 50 sma), before the bears will look to target 7366, the 100 sma.
On the flip side resistance exists at 7645 (yesterday’s) , before 7680 and 7730 (high 30th July)
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