Ftse 100

[ForceBeWithYou]

Above 6200, sucking in the shorter term longs I reckon. Under 6000 must be very tempting for the stop Lords. Reckon 5500 on the cards into may/June. Plenty about to hit the index. Cant see much to counter it upside yet.

 

[tomorton]

Agree with direction after we get out of the recent range - for this to be a bull flag I'd have preferred a stronger up move, say to 6400 or better 6600. ThoughI can't see us getting as low as 5500 that quickly.

 

[ForceBeWithYou]

Yes, trend pressures are not favouring bulls in recent range. I had read it as similar. Around 6250-6500, to be trading a more bullish area. Brexit vote wont aid it.

Agree, 5500 is low side. I'd call that, overall target but would accept, a turn before it, if some short term trend tries to form above it. We have had a 900 or so, points drop since 2015 high. Right now, the next 900 move, I'd favour more downside. However, mind must be like market. Dynamic. That can change lol.