FTSE crashes to 4733 on the open.
FTSE breaks the 4850/30 low and support at the June contract low at 4810/4795 testing support at the 2011 low at 4750/4700. A break below 4650 signals the next leg lower in the crash with 4600 and 4520/00 likely to be seen.
Gains are likely to be limited with resistance at 4830/40 and 4890/4900. A break above 4940 is more positive targeting 4990/99, perhaps as far as 5065/85. Try shorts at 5150/70, with stops above 5100.
Trends
- Weekly outlook is negative
- Daily outlook is negative
- Short Term outlook is negative