FTSE: 66810/05 Key Level For Today
Jason Sen | Sep 09, 2014 08:40AM ET
FTSE collapsed again to the the next support at 6780 and bottomed just below at 6772. 66810/05 is the key for today. If we can hold above and beat immediate resistance at 6828/32 we can push higher to 6840 and perhaps as far as 6847/52. A high for the day possible but shorts need stops above 6860. A break higher could then target 6885/90 before a retest of last week's high at 6900/07 possible. A break higher this week then opens the door to 6945 and possibly a retest of December 1999 all time highs at 6995 in September.
Immediate support is 6810/05 but below 6800 keeps the market under pressure for a retest of 6778/72. Any longs here need stops below 6765 as a break lower should target good support at 6750/47. Exit shorts and try longs with stops below 6735.
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