• support@capitalstreetfx.in     0124.400.4440

About Us

Capital Street Inter markets Limited is a Global Business Company (GBC1) incorporated and regulated by the Financial Services Commission, Mauritius. It is fully licensed and regulated by the FSC Mauritius, as a Full Services Investment Dealer....

Contact Info

  • 9th Floor, Ebene Tower, 52 Cybercity Ebene, Republic of Mauritius

  • +1-949-335-4314

  • support@capitalstreetfx.in

  • Sunday: Closed

FTSE 100 FALLS BELOW MA5 ON OIL CRASH -

    • Home
    • News
    • FTSE 100 FALLS BELOW MA5 ON OIL CRASH
21-Apr
20:58 IST

FTSE 100 futures are currently trading at 5650.2-lower by 1.15% as compared to the previous closing. The contract closed in the negative territory in the last trading session also.

In the cash markets, the FTSE 100 dropped 2.66% at the time of writing.

A decline in US crude futures below zero knocked down the index today. Oil majors Royal Dutch Shell and BP Plc. dropped more than 2% at the time of writing.

US crude futures for May delivery cut losses to trade in sub-zero levels today, after falling below zero for the first time in history in the previous session.

According to market sources, HSBC (down 3.43%) cut a number of top management roles in its investment bank, despite wider firing freeze.

The midcap index FTSE 250 was down 1.93% at the time of writing.

Index component BHP component dropped 4.73% after it said that global steel production excluding China could fall sharply in 2020 due to the coronavirus pandemic.

Fellow miners Glencore and Rio Tinto also declined more than 3% at the time of writing.

Retailers were trading in positive territory on Tuesday. Sainsbury and Morrison’s added 3.27% and 1.90% respectively at the time of writing.

Housebuilders were trading mixed on Wednesday. Taylor Wimpey added 0.23% while Barratt Developments lost 0.54%.

Other top losers in the FTSE 100 include WPP 2012 (down 4.43%), Hargreaves Lansdown (down 4.46%), and Coca-Cola HBC (down 4.72%) at the time of writing.

On the data front, UK Claimant Count Change for March released earlier today came in at 12.1K. Count Change was better-than-the consensus estimates of 172.5K.

On the technical front, the RSI is currently at 47.59% and suggests that the market can move in the downward direction. The current price is below the MA5. The current price is above the middle line of the Bollinger Bands but is heading downwards.

Overall Bias is Negative and short-term trades can be initiated with below mentioned Stop Loss and Profit targets.

 

Trade Suggestion- Limit Sell at 5660. Take Profit at 5590. Stop Loss at 5695

Leave a Reply

Your email address will not be published. Required fields are marked *

Hi Please share contact detail & write any comments below, our team will try to call soon.