FTSE: Holding above 5635 targets 5685

Jason Sen DayTradeIdeas.co.uk

FTSE

FTSE 100 JUNE Futures

FTSE mostly in a sideways consolidation pattern as hold 10 ticks above strong support at 5550/30 & beat first resistance at 5635/60 to target 5685/95 & 5715/25.

Dialy Analysis

FTSE holding above 5635/60 targets 5685/95 & 5715/25 before a retest of the last swing high at 5780/90 with strong resistance from here up to 5830/40.

Strong support at 5540/60. Longs need stops below 5500. On further losses look for 5470/65, then a buying opportunity at 5420/10, with stops below 5380.

Trends

Weekly outlook is negative.

Daily outlook is neutral.

Short Term outlook is neutral.

Author

Jason Sen

DayTradeIdeas.co.uk

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