FTSE remains flat during last few days, that is little disappointing. Last week I was talking about 6100 level if FTSE fully reacts on its bullish pattern and I am still maintaining that level. Though it is getting resistance above 5800 but some technical indicators are not showing over-bought condition for FTSE. I have a feeling that it may try to test higher levels in coming week but I am not sure about the exact time.
After early days of coming week if FTSE drops from 5800 level then 5700 will be its initial support and then 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.
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