I am thinking that the current leg up might run out of steam in the 7545 to 7560 area and then we get a leg down toward 7415 before the year end rally. The FTSE is struggling to push higher and lagging the Dax and SP, cable is pegging it too. We have a rate rise (potentially but pretty likely 0.25% increase) and that might well see an initial spike higher in cable which may lead to some FTSE 100 bulls taking profit. IMHO, DYOR!
Trade closed: target reached:
7415 level pretty much hit yesterday and we have bounced a bit. Below here it looks bearish but am thinking that we will get a bit of upside next week. New post to follow.