Technical forecast for FTSE

ftse1

FTSE headed lower as predicted to our lower target of 6625/17 & a buying opportunity. We bottomed just below at 6603 but the outlook remains weak so watch for a break below 6590 to target the March high at 6558/52. If we continue lower look for good support at 6518.

Resistance at 6645 but above here look for 6665/70. We should struggle here so watch for high for the day but if we push higher look for a selling opportunity at 6692/02.

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