FTSE: Important 9-Year Trend Line Resistance At 7135/45
Jason Sen | Oct 26, 2016 04:54AM ET
FTSE first support at 6955/50. If we continue lower look for minor support at 6920 then last week's low at 6899 before strong support at the 2 week range low at 6892 with important 2 month trend line support just below at 6880. This is the best chance of a low for the day. Try longs with stops below 6865.
First resistance at 6985/89 should be a tough challenge and could hold a recovery. Above 7005 however re-targets 7035/7040. A break above 7050 targets 7068/72 but obviously the 7090/93 high for this year is important. We then meet further IMPORTANT 9 YEAR TREND LINE RESISTANCE AT 7135/45!
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