Stock prices in London are seen opening slightly higher as optimism over a resolution of the trade dispute between the US and China faded. The blue-chip index closed up 83 points yesterday as investors looked to pick up stocks at reduced levels following a period of recent weakness. No major news or economical data scheduled to be released today.
The UK stock index tested once again the 200-period moving but momentum was not strong enough to cross it. The trend is still clearly bearish with no clear signs of a possible reversal. Selling could accelerate should prices move below the nearby swing low at 6900 where further sell stops might get triggered.
Support: 6970 / 6855
Resistance: 7040 / 7115