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FTSE 100 Daily Forecast - May 7, 2020

Published 05/07/2020, 05:18 AM
Updated 07/09/2023, 06:31 AM
UK100
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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

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