FTSE TECHNICAL GUIDANCE

If you are short:

1st resistance at 5389 (55-90min moving average). Weak stop loss above that level.

2nd resistance at 5409 (previous high). Fair stop loss above that level.

3rd resistance at 5557 (200-day moving average). Strong stop loss above that level.

If you are long:

1st support at 5263 (yesterday’s low). Weak stop loss below that level.

2nd support at 5253 (previous low). Fair stop loss below that level.

3rd support at 5235 (Elliott wave target). Strong stop loss below that level.

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