DAILY MAR'19 FTSE - Friday's trade idea and technicals
Mar Contract – As in mainland Europe, temporarily bullish signals on the week as well as for Tuesday & Wednesday have been confirmed. Here too a loss of impetus and divergence on intraday momentum indicators with futures trading close to a 62% recovery to the entire December sell-off switched yesterday’s signals to bearish. These too were confirmed as initial losses of almost 50 Pts ended a sequence of higher daily lows. However, the dip has attracted buyers for sentiment to recover strongly into the close. Signals for Friday are subsequently pointing cautiously higher the call is to buy modestly on the open and then at 6866.0, yesterday’s Marabuzo line with a stop loss at 6798.5, yesterday’s low. Targets are to 6909.0/12.5, yesterday & the 4 week highs, 6975.0 and 78081.0, the Q4 Marabuzo line.
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