FTSE was trying
to stay above 5750 level in the last day, now if it able to maintain that in
coming week then we may see FTSE crossing 5800 level. But that may not be in
early days of the coming week; as such it may deliver flat movements in those
days.
On the other hand
if it drops from 5750 level then it will be looking for support around 5650
levels and next one is at around 5600 level. I will think about a bearish
pattern if FTSE fails to break 5850 level in the upside, though that is in
early stage but if it triggers then FTSE may go below 5500.
FTSE is making a
long-term bearish pattern which it can trigger below 5000 level but this type
of pattern is difficult to trigger. On the other hand higher lows which it made
in last 1 year, says that FTSE will be testing upside in coming future.
NOTE: Please see the disclaimer of this blog.
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