FTSE shorts at 5410/30 were offered 100 ticks profit – not much these days! We wrote: A break higher targets 5480, 5520/30 & 5580/90. If we continue higher look for 5625/35 &5680/99.
If you jumped in to a long we hit all targets & topped at 5707 before a collapse to 5350.
FTSE seeing a good bounce & we may have some legs on this into tomorrow before another expected sell-off. If we can hold first support at 5480/70 we can retest 5670/5710. A break higher certainly possible targeting an excellent selling opportunity at 5830/50. Stop above 5950.
First support at 5480/70, second support at 5340/30. The last line of defense for bulls sat 5250/5200. Try longs with stops below 5100. Below here bears are back in full control
Trends
- Weekly outlook is negative
- Daily outlook is negative
- Short Term outlook is neutral