7550 and then down to 7415
I am thinking that the current leg up might run out of steam in the 7545 to 7560 area and then we get a leg down toward 7415 before the year end rally. The FTSE is struggling to push higher and lagging the Dax and SP, cable is pegging it too. We have a rate rise (potentially but pretty likely 0.25% increase) and that might well see an initial spike higher in cable which may lead to some FTSE 100 bulls taking profit. IMHO, DYOR!
Trade closed: target reached
7415 level pretty much hit yesterday and we have bounced a bit. Below here it looks bearish but am thinking that we will get a bit of upside next week. New post to follow.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.