Technical forecast for FTSE

FTSE Sep13 made it to 6470/75 & topped just above at 6484. We are starting to look overbought short term & on the daily chart but if this does not hold the topside today, look for a move towards strong Fibonacci resistance at 6515 for a selling opportunity with stops above 6530.

We have broken a 1 week trend line this morning which may trigger a move towards 6444. Below here look for 6419, possibly a test of good support at 6400. We look for a low for the day here but longs need stops below 6375 for good support at 6360/50 & what should be an excellent buying opportunity.

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. has established itself as the leading provider of... More