FTSE 100 Futures: Bear Threat Aims For Key 7165 Level
Steve Miley | Sep 25, 2019 07:10AM ET
A Tuesday plunge below 7245.5 support for the FTSE 100 futures, reinforced the setback Monday and the negative tone from the recent upside failures from below 7348. This should keep risks for a correction lower Wednesday.
The early September surge above 7268.5 set an intermediate-term bull trend, BUT risk is now for an intermediate-term shift straight to bearish through 7165.
For Today:
- We see a downside bias for 7208 and 9197.5; break here aims for key 7165.
- But above 7266 opens risk up to 7297.
Intermediate-term Outlook - Upside Risks: We see an upside risk for 7405.
- Higher targets would be 7666 and 7800.
What Changes This?
- Below 7165 shifts the intermediate-term outlook straight to an intermediate-term bear theme.
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