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Ftse: Prices Overbought Short Term

Published 04/22/2014, 08:33 AM
Updated 07/09/2023, 06:31 AM

Ftse Weekly Chart

FTSE has hit our target and resistance at 6595/6600. We also meet the 100 day moving average at 6615 the the 2 week high at 6635. It's only above here therefore that the outlook turns more positive and targets 6653/55 and possibly 6660/63.

Prices are overbought short term a drift lower to support at 6585 looks possible. If we continue lower a low for the day could be seen at 6573/71. However if we continue lower look for 6559 then a buying opportunity at 6550/46 and a good chance of a low for the day.

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