During last couple of months Ftse failed to break around 5950 ranges, in my earlier posting I told that this time Ftse looks stronger but yet it failed to break around 5950 ranges. So hopes will be more in coming weeks, especially when its last day’s close was far better than its low.
I have a feeling that Ftse may be trying to make a very short-term bearish pattern but this type of pattern has less chance to trigger. In spite of that if that pattern works out then Ftse may test 5850 range in coming week. So long it maintains around 5800-5850 ranges, it has good chance to test 5950 range again. In the downside 5750 level is a good support for Ftse. Here I must say that now 5900 is the initial support for Ftse, so things can turn even from this range.
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