FTSE mostly in a sideways consolidation pattern, although we beat 5540 for a short term buy signal targeting 5580/90, 5615/25 and 5650/60.
FTSE key resistance at 5650/60 but above here targets 5685/95. Above 5710 looks for a retest of the last swing high at 5780/90 with strong resistance from here up to 5830/40.
Minor support at 5590/80, strong support at 5550/40. On further losses look for a buying opportunity at 5490/80, with stops below 5460.
Trends
- Weekly outlook is negative
- Daily outlook is neutral
- Short Term outlook is neutral