FTSE 100
Soaring in line with euphoria everywhere else and the media bleating that the FTSE 250 hit a new record high. If nothing else price action over the last four working days tells you that volatility is up a good notch. Seeing we have corrected half of the previous decline, and that we are hovering at the neckline of a head and shoulders top, we are watching for signs of failure here.
SHORT TERM TRADER: New small short at 7265; stop above 7350. First target 7100.
POSITION TAKER: Small short at 7300; stop above 7350. Target 6650.
SUPPORT | RESISTANCE |
7250 | 7287 |
7175 | 7346 |
7144 | 7380 |
7100 | 7410 |