With the index above 9422–9435, its strong up-move remains intact, says Sandy Jadeja at www.spreadbettingtowin.com.
Progress to the all-important target at 10335 seems likely. The initial objective before that lies at 9917. September has defied its seasonal tendency towards weakness, so it may be October when we see the high followed by a major turn. Look for a drop below the 20-period moving average and a bearish signal from the momentum indicators to confirm this. The odds continue to favour a nasty fall in the not-too-distant future.
Sandy Jadeja is Chief Market Strategist for ODL Markets and founder of www.Spreadbettingtowin.com where he teaches low risk trading strategies and money management.
IC Trades are written by Investors Chronicle writers. City Trades are written by selected external contributors. Both are based on the interpretation of patterns on a share price chart, rather than on fundamental analysis of the company's business or prospects.
More trading ideas on our Tips page...
