The daily money flow indicator suggests bulls need to observe caution. If we look back into history, each time the indicator neared 67-70 levels, there was a notable pullback in the index.
The view gains further credence when we consider the fact that FTSE100 is hovering around key resistance zone of 6850-6900.
If indeed the historical pattern unfold (which seems likely) the first stop could be at 6775 followed by 6600.
The view gains further credence when we consider the fact that FTSE100 is hovering around key resistance zone of 6850-6900.
If indeed the historical pattern unfold (which seems likely) the first stop could be at 6775 followed by 6600.