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FTSE 100 Forecast - Dec 23, 2019

Published 12/23/2019, 04:14 AM
Updated 07/09/2023, 06:31 AM
UK100
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FTSE we wrote: Bulls clearly in full control despite overbought conditions. FTSE breaks above 7500 to target 7515/10 and above 7515 look for 7545/55.

All targets hit.

FTSE bulls need to hold prices above 7500 to re-target 7515/10 and above 7515 look for 7545/55. A break above 7560 runs into important 19 month trend line resistance at 7590/7600. Bulls need a daily close above here for the next buy signal.

Downside expected to be limited at this stage but below 7500 risks a slide to 7585/80, perhaps as far as 7465/60. Try longs at 7445/40 with stops below 7420.

Trends

Weekly outlook is positive

Daily outlook is neutral

Short Term outlook is negative

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