FTSE 100 - Technical Daily Chart
Momentum:
MACD: Positive
RSI: No clear trend
Stochastic: Buy signal
Daily Price Action Trend: Negative
Last relevant high: 5,945.9
Last relevant low: 5,499.5
Comment:
The FTSE kept its rally going yesterday making it a hat-trick of positive session. From a technical point of view we have a new buy signal on the MACD, but traders should note this is the most lagging of our momentum indicators. We must also highlight that volume wasn’t inspiring yesterday, definitely below average for the calendar year. Not to always sound bearish, but we remain in a negative trend and until this changes we would be more inclined to short aggressively and buy moderately. For those who are long, we note that a sell signal will be formed if by the close of trading today: 5,812.5 is broken without 5,880.7 being bettered.
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