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15 Dec 2014
FTSE erased gains as Crude prices decline
FXStreet (Mumbai) - The London’s Ftse index fell into the red as energy shares erased gains while the mining shares extended losses tracking the fall in Crude prices.
The Ftse now trades 0.43% lower at 6273.50 levels as Brent Crude oil declined 0.30% to USD 61.96/barrel. Moreover, crude prices too erased gains to trade in red, which hurt the Energy shares in the UK. The Ftse Oil and Gas index now trades 0.42% lower, while the Oil Equipment Services and Distributions index has erased much of the gains to trade just 0.20% higher. Meanwhile, the Ftse Industrial Metals and Mining index extended losses to trade 7.55% lower.
Ftse Technical Levels
The index has an immediate support located at 6267, under which losses could be extended to 6211 levels. Meanwhile, the resistance is located at 6294 and 6328 levels.
The Ftse now trades 0.43% lower at 6273.50 levels as Brent Crude oil declined 0.30% to USD 61.96/barrel. Moreover, crude prices too erased gains to trade in red, which hurt the Energy shares in the UK. The Ftse Oil and Gas index now trades 0.42% lower, while the Oil Equipment Services and Distributions index has erased much of the gains to trade just 0.20% higher. Meanwhile, the Ftse Industrial Metals and Mining index extended losses to trade 7.55% lower.
Ftse Technical Levels
The index has an immediate support located at 6267, under which losses could be extended to 6211 levels. Meanwhile, the resistance is located at 6294 and 6328 levels.