Technical forecast for FTSE

FTSE Sep13 is sitting above 6425 which may allow a retest of last week’s high at 6450/55. We should struggle here but a push higher may see 6470/75. If this does not hold the topside then look for a move towards strong Fibonacci resistance at 6515 for a selling opportunity today with stops above 6530.

Support at 6376 may hold the downside but below here good support at 6335/30 should offer a buying opportunity today. However any longs need stops below 6315 for a test of the next support at 6292.

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