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Technical Outlook in the Footsie?

The FTSE has been making some noises to the downside of late, finally coming to the party on our pullback skew.

Our regular readers will know that ever since we found resistance around 4500 over most of May we have been mooting the idea of a pullback. Will this take us back to or even through the March lows? You need to subscribe to FuturesTechs to have access to our views on questions like this. As a taster for those of you who, for some strange reason, don’t subscribe,  here’s today’s FTSE Futures commentary and chart.

“Monday saw the bulls recover from as bad start. This may have sucked many into thinking that we were going to move back into the range that’s been defining this for a while now. I wasn’t convinced at all and said this:
So have the bulls saved the day, just in the nick of time? I’m not convinced… With 4236 in the resistance column we expect the market to continue lower

Just in front of resistance at 4236 we had a level at 4212. the market got to 4210 then fell over. We got down to a late low of 4121.5 in after hours trade, so we’re now very close to testing the next bold support at 4101.
Below 4101 (and we think we will break this level) look for 3975 next, then 3849.5.
So we continue to look to sell into strength and get short for further losses”.

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Clients are enjoying the extra levels we now provide on our levels sheets, which have padded out the offering for all asset classes; Commodities, leading UK Stocks, and Forex now enjoy extra coverage for FuturesTechs members.

Clive recently spoke at the SII “Risk Forum” on a pnel discussion on the outlook for the next 6-12 months. Again our clients had access to the slides for this presentation, giving bigger picture insight on the technical outlook for Equities, Commodities and Bonds.

Clive was recently asked to do an interview by Malcolm Prior, author of several best selling books on Spread Betting. Malcolm published this interview on his website, Spread Betting Central. Click here to read this.

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