DAILY Jun'19 FTSE - Friday's trade idea and technicals
Jun'19 Contract – Sentiment has been volatile this week, as initial losses of 100 Pts from Monday’s high attracted buyers from close to last week’s 6991.0 base, and for sentiment to rally by almost 150 Pts from Tuesday’s low. The recovery is positive, but it has attracted sellers yesterday from close to February’s near 1 ½ year peak. Until this level is broken (7217.5 on Mar) the outlook for Friday on the new Jun’19 contract remains just cautiously bullish and the call is to buy modestly on the open and then at 7100.5, yesterday’s closing trade with a stop loss at 7049.5, yesterday’s base. Targets are to 7133.5, yesterday’s high, 7175.0 and 7250.0.
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