SEP'17 FTSE - technical signals for Thursday
Dec'17 Contract – A trend of higher weekly lows and highs and a gain of over 350 Pts since last month’s 7170.0 base has left daily signals for FTSE sentiment overstretched. Trading over the last 6 days has reflected this as the market has posted little changed closes which has subsequently left intraday trend signals weak. There remains a cautiously bullish bias though, so with this in mind the outlook for Thursday is to buy only modestly on the open and then at 7490.5, yesterday’s low with a stop loss at 7473.5, this week’s base. Targets are to 7525.5/32.5, October’s highs, 7551.0/53.0, the 18 & 19 week tops and 7589.0, June’s record peak.
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