UK FTSE 100 - Key Levels To Watch For 30th Sept 2009

Fundamental Analysis 

The FTSE 100(UKX) has opened higher today shruggging off losses in the US and Asia overnight, with Marks & Spencer and Man Group in focus as they update the market on recent trading. 

In the corporate diary for the day, interim results are due from Alexandra, Alexon, Gulf Keystone Petroleum, Hansteen Holdings, Harvey Nash Group, Marks & Spencer Group, Netplay TV and Silence Therapeutics. 

Final results are scheduled from Finsbury Food Group, Indigovision, Litcomp, Neuropharm Group and Smiths Group.

Man Group, Babcock International, FirstGroup, Misys and Thomas Cook Group will issue trading statements. 

Particular attention needs to be paid to the ADP Employment and GDP report in the US session for direction.     

Technical Analysis

The FTSE 100(UKX) has put in a triple top and has failed to get past the crucial 5190 resistance level, we still await a catalyst in order to push this market higher and we may find it on Friday with Non Farm Payrolls report out in the US.

Support Levels are; 

5152, 5145, 5140, 5135, 5116, 5065 

Very strong support at the Neck-tie level 5130, this is where the 20 and 50 Moving Average converge together which also coincides with Fibonacci retrace of 31.8%.   

Resistance Levels are; 

5180, 5190