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FTSE: Strong Support At 6355/45

Published 02/04/2014, 09:57 AM

FTSE retested 6365 lows but over ran to 6344. We could now be witnessing the end of the 3 week correction & should start to build a recovery in to the end of the week. Look for strong support at 6355/45 today 7 use this area as a buying opportunity. Exit shorts & try longs with stops below 6320. A break lower however risks a test of October lows & important Fibonacci support at 6290/80.

Immediate resistance at 6400/05 then 6440/50 which could hold a move higher. However above 6470 is more positive & targets strong resistance at 6495/6500.

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