Bearish outside day signals reversal for FTSE 100
Our medium term outlook remains bearish despite the recent correction from February 11 swing low. The month of May ended stronger after the FTSE drifted sideways for the most part.
Once shorts are set and first target is reached, we can look to move stop to entry and target the major support and target level.
Entry: Sell UK100.i at current levels and on a pull-back to 6275.
Stop: A break above 6310.
Target: 6150 and 6050.
Time horizon: Seven to 10 days.
FTSE trend highlighting bearish outside day
Long-term FTSE trend
— Edited by Robert Ryan
Non-independent investment research disclaimer applies. Read more