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UK100: Set to start the session higher today

UK100 is set to start the session higher today, with investor showing relief over the U.S. Federal Reserve’s accommodative policy stance.

Today on the economic calendar we have from the U.K we have the Retail Sales that expected to show a steady grow 2.6% to 4.1% showing an increasing consumer spending. Also we have the Scottish independence referendum where people in Scotland will begin voting on whether the country should stay in the UK or become an independent nation.

The UK100 fell during the course of yesterday session testing the 6769.5 a daily support zone and closing near the middle of the daily range showing signs of indecision. Also the narrow range day created a market compression in an inside day pattern.

Expecting downward move to 6684 on a break of below daily support at 6764.7 (scenario 1) or a break above previous day high at 6817 could push the index to a daily resistance at 6874.5.

UK100 is a CFD written over FTSE100 futures.