FTSE: Holding 5480 support can retest 5670
|FTSE
FTSE 100 JUNE Futures
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.
Daily Analysis
FTSE seeing a good bounce & we may have some legs on this in to 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 the last line of defence for bulls is at 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.
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