Day trade
Trade view / 28 September 2016 at 5:55 GMT

Dec'16 FTSE: Lower highs keep signals pointing to selling rallies

partner and technical analyst / 3 c analysis
United Kingdom
Instrument: UK100.I
Price target:
Market price:

This week’s Dec'16 FTSE signals have been confirmed with Tuesday’s trading posting a third lower daily high in a row. Although the market has bounced for Tuesday to close unchanged, the sequence of lower daily highs highlights the willingness to sell into any strength. There may be a recovery, with futures trading close to their 50-day average rate, but signals remain negative.

Management and risk description

Sell the rally only and lower stop to entry if the first target is met.


Entry: Sell at 6790.0.

Stop: 6832.0, yesterday's high.

Target: 6700.5, the Sep 16 close.

Time horizon: Today only.

FTSE charts


FTSE 4 hourly - pullback to gains

FTSE Weekly - testing highs

FTSE Monthly - Head & Shoulders reversal
All charts CQG. Create your own charts with SaxoTrader; click here to learn more.

— Edited by Susan McDonald

Non-independent investment research disclaimer applies. Read more
Michael Liu Michael Liu
FTSE is very strong...
Michael Liu Michael Liu
Stop out! ouch!


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