FTSE shorts at key resistance at 5840/60 worked perfectly with 2 opportunities for a 70 tick profit as we bottomed exactly at first support at 5775/65. Same levels apply for today.
Today’s Analysis
FTSE key resistance at 5840/60. Shorts need stops above 5875. A break higher targets 5910 then 5980/90.
Minor support at 5775/65 held perfectly as a profit-taking level, but below 5750 is more negative targeting 5720/10, with key support at 5675/55. Longs stop below 5625. A break lower is a sell signal targeting 5580/70, 5530/20 and 5470/60.
Trends
- Weekly outlook is negative
- Daily outlook is neutral
- Short Term outlook is neutral