Technical forecast for FTSE 100

ftse1

FTSE Sep13 held Friday’s range. Look for a selling opportunity at 6580/86 today. Stops on shorts needed above 6600 for 6620/25 which should meet selling pressure.

Immediate support is 6535 but longs need stops below 6525 for a test of 6505/00 & a low for the day possible. However longs need stops below 6490 as a break lower risks a slide to 6472 before August lows at 6452.

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