FSTE: First resistance at 6150

Jason Sen DayTradeIdeas.co.uk

Ftse

FTSE 100 September Futures remain very much in a sideways trend as expected, as we give up 2 days of gains on Friday. We broke first support at 6150/70 to hit the next target of 6115/05.

Daily Analysis

FTSE tests minor support at 6115/05 before a retest of last week's low at 6060/40. A break lower risks a retest of 2 week lows at 5995/85.

First resistance at 6150/70 but above here retests the 3 days high at 6220/25. A break above 6225 opens the door to 6265/70 before a retest of this week's high at 6300/03.

Trends

Weekly outlook is negative.

Daily outlook is neutral.

Short Term outlook is neutral.

Author

Jason Sen

DayTradeIdeas.co.uk

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