FTSE Opens Above 6800/05
Jason Sen | Apr 08, 2015 10:29AM ET
FTSE hit profit-taking into the close to reach 6872. Below here today meets good support at 6861/58. It should be worth trying longs here with a stop below 6845. A break lower however then risks a slide to 6825. If this does not hold the downside look for excellent buying opportunity at 6803/6798, with a stop below 6790.
Bulls need to push prices back above 6886/88 to maintain a positive momentum and target 6895/96 then yesterday's high at 6912. Be ready to go with a break above 6915 to target 6925 then quite tough resistance at 6934/6939. We are overbought in the short-term so a high for the day is possible here but shorts need a stop above 6948. Be aware that a break higher targets 6960 then 6980 and perhaps as far 6988/91.
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