DEC16 FTSE may test September highs
September's selloff has stalled in the FTSE 100 and reversed since Thursday, with sentiment recovering to end a sequence of lower daily highs and with a switch to posting higher daily lows.
A developing trend of lower weekly highs has also been marginally broken, which points to the FTSE moving higher in the direction of September's highs.
Management and risk description
Allow room to buy an intraday dip and raise stop to entry if the first target is met.
Entry: Buy at market and at 6736.0, yesterday's afternoon low.
Stop: 6700.5, the window which has remained open since last week's close.
Target: 6818.0, the September 9 high and 6848.5, the September 8 top.
Time horizon: Today only.
— Edited by Adam Courtenay
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