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FTSE: Forecast

Published 12/15/2014, 06:22 AM
Updated 07/09/2023, 06:31 AM

FTSE Weekly Chart

FTSE 100 outlook remains negative after last week’s loss of over 500 points. A break below immediate support at 6200/6195 adds pressure to target 6150/45 with any further losses to test 200 month moving average support at 6125/20. A low for the day possible but longs need stops below 6100. Be ready to go with a break lower to target 6083/82 then 6065/60.

Our first resistance level is at 6260/65 then 6290/93. Above here look for a selling opportunity at 6310/15 with a good chance of a high for the day but our shorts need a stop above 6330. On a break higher we should target 6345/50 and any shorts here will need a stop above 6360.

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