FTSE: First Support At 6648/45
Jason Sen | Jul 27, 2016 02:17AM ET
FTSE needs a correction to the downside to ease overbought conditions. First support at 6648/45 again today but better support at 6614/10 could hold the downside today. However further losses targets 6584/80 then quite good support at 6555/50.
Holding first support at 6648/45 re-targets resistance at the 6693/03 high in overbought conditions. Monday's negative candle in overbought conditions warns that gains are likely to be limited. A break higher cannot be ruled out however in the bull trend with bears unable to take control just yet and targets 6720 then 1 year highs from August 2015 at 6754/62.
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