FTSE is trying to stay above 5800 level but considering its over-bought condition, a reversal may come. Here I will consider level above 5700 as an initial support for it and then at 5600. If it drops more then I will think about a bearish pattern if FTSE breaks 5500 level but that may not be necessary in coming week.
On the other hand if FTSE maintains 5750 level then more up moves are expected. During last few weeks I was talking about the bullish pattern for FTSE, I was talking about 5900 level but after last few week’s moves I may love to increase that range to above 6100. So if FTSE maintains its last day level or reverses from 5750 level in early days of the coming week then I will be looking for levels above 6000 in the upside but this is not totally a prediction for coming week.
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