FTSE: Bearish Below 7470 With 7380 Support
FTSEDayTrader Limited | Jun 23, 2017 08:57
FTSE
For today I am watching the 7460/7470 area as we have a few fairly key looking resistance levels here, including the new one on the daily now that the moving averages have crossed over. Coupled with the red coral on the 2 hour chart, the bulls might struggle to break this area. The bears will be keen to build on the weakness from the 7600 level recently, and will have been buoyed up by the break of 7420 yesterday, even though they couldn't make it stick.
The bottom of the 10 day Bianca looks likely to be tested today at 7385, equally the 7475 level also. It's Freaky Friday for good measure so it will be an interesting one. There isn't an abundance of market moving news but the ASX (AX:ASX) had a rise dip rise sort of day as well, and FTSE 100 futures prices have remained fairly static overnight, around the 7425 level.
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