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FTSE 100 Future Re-Energized Bull Bias

Posted by on in Equity Index Chart Updates
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FTSE 100 Future Re-Energized Bull Bias

A probe to another new record high to 7061 after high level consolidation this week of the strong rally last week, having previously defended support, at 6875/71.5.

We favour further bullish extensions to upside targets into April.

For Today:

We see an upside bias for 7061; break here aims for extension target at 7088, maybe to 7100, which we would look to try to cap.

But below 6989 opens risk down to 6931, which we would look to try to hold.

Short/ Intermediate-term Outlook - Upside Risks:

We now see a more positive tone with the bullish threat through the new record high at 7061.

Above here targets 7088, 7123 and 7178.

What Changes This? Below 6795 eases bull risks; through 6683 signals a neutral tone, only shifting negative below 6618.

Momentum: The 8-day RSI, short-term momentum is positive, but not OB, leaving scope to go still higher this week.

You can view the full FTSE 100 future report with screencasts, levels and day trade views - click here

And remember, for a FREE trial of our Equity Index Futures and all other reports sign up by clicking here

Daily FTSE 100 Future Chart


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Steve Miley is The Market Chartist and has over two decades of financial market experience with him. He spent 2009-2012 as a Director of the FX Technical Analysis Research Strategy team at Credit Suisse and was previously at Merrill Lynch for 15 years; 10 years as a technical analyst, 5 years in Fixed Income sales.

He was 2013 winner of the Technical Analyst Magazine Award for Best Independent Fixed Income Research & Strategy, Runner Up for the same award in 2014 and was the winner of Best FX Research & Strategy 2012 (at Credit Suisse).

Steve is a Member of the Society of Technical Analysts (MSTA) and holds a Masters Degree in Politics, Philosophy & Economics from Lincoln College, Oxford University.

Steve has covered all major asset classes including Rates & Credit, G10 & EM currencies, Equity Indices & Sectors and Commodities and has strong relationships across the institutional financial trading spectrum, including Central Banks, Real Money accounts, Hedge Funds and other Global Corporates.



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