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FTSE: Forecast

Published 12/18/2014, 02:58 AM
Updated 07/09/2023, 06:31 AM

FTSE Weekly Chart

FTSE 100 outlook remains positive & will now need to hold above the important short-term support at 6370/6365 to build on recent gains. Be ready to go with a break above 6395/6400 to target 6415/20 then resistance at 6435/6440. A high for the day is possible here, as we become overbought in the short-term, but if trying shorts use a stop above 6450. Be ready then to go with a break higher using 6440 as support to target 6464/6468 then 6480/6490. If we continue higher look for a very strong resistance at 6505/6515. Try shorts expecting a high for the day with a stop above 6530.

Immediate support at 6370/6365, but longs need stops below 6350 as this risks a test of support at 6325/20. Longs here need a stop below 6300, as we could then test very strong support at 6275/6272. Try longs here expecting a low for the day with a stop below 6250.

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