Despite trading in dull fashion of late, my bullish case for the FTSE remains intact, says Warren Firth at www.globalprimepartners.com.au.
There are clearly stresses right across Europe right now, with austerity deepening recession rather than promoting growth. However, the FTSE's outlook remains decent enough, and I reiterate my Gann-theory derived target at 6491. I would only exit my long position on sustained action below 5600.
City Trades are written by selected external contributors and are based on the interpretation of patterns on a share price chart, rather than on fundamental analysis of the company's business or prospects.