FTSE: Strong Resistance At 6595/6605
Jason Sen | Jan 29, 2014 08:09AM ET
FTSE was predicted to end the very steep 3-day correction and exactly as expected we headed higher to test the 100 day moving average at 6530 and then the next target of 6575/80 this morning. We now run in to strong resistance at 6595/6605 which could hold a move higher today. However if we continue higher we could target 6635/40.
Immediate support is 6540/35 and could hold the downside but below here use 6505/00 as a buying opportunity with stops below 6480.
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