After +18% Rise in a Month, FTSE 250 at Key Resistance

FTSE100 unch at 7380 following +1% yesterday led by Pharm, Personal Care, Tobacco and Utilities

Gold dipped to $1655 yesterday then rallied back to $1675 and is consolidating around the $1770: it maintains a very bullish bias but likely prone to minor pullbacks before reaching for $1700 as next test : dollar slides to $107 level and finds support from Aug 22. Gold will follow dollar inversely so any further DXY weakness supports the move to $1700.

Oil struggling to hold the 50MA and looks set for further declines may challenge tthe $90 level.

VIX ticks up to 23.7 as US reversed and closed in the red S&P rejected 4000 level

FTSE 250 Charts

Mid caps have rallied hard +18% in a month with broad participation and outperformance in Retail, Travel and funds

Index is now back at the resistance line stretching back to the index all-time high: what was previously a support line which became resistance in the Feb ’22 post Ukraine invasion sell-off.

Technicals suggest this resistance amy hold for now with at least a pullback and then retest of this level: clearing and closing this with conviction may well signal further gains ahead