Technical forecast for FTSE

ftse

FTSE made it all the way to our upper target of 6769 for a selling opportunity with stops above 6782. We have held support at 6712 but the risk looks to be to the downside today so watch for a break lower to target 6699. Failure here then takes us towards 6678/74. Any longs here need stops below 6665 for good support at 6625/17 & a buying opportunity.

Resistance at 6742/46 could hold the topside today but above here look for resistance at 6770/79 again. A break higher today looks unlikely but could target 6810. A break above 6830 would then open the door to 6861 highs.

Jason Sen began his career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successfully made the transition to day trading on computer screens. Jason always had an interest in technical analysis throughout his trading career but began to study this area in depth from 2006. www.daytradeideas.com has established itself as the leading provider of... More