FTSE unexpectedly broke higher to 5898 before dropping 100 ticks.
Today’s Analysis
FTSE I have to stick with key resistance at 5840/60 which held through the afternoon session.
Shorts need stops above 5875. A break higher targets 5900/10 then 5980/90.
Minor support at 5775/65 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