Zak Mir
FTSE100 Analysis
- Classic rising 200 day moving average bear trap rebound buy signal so far from below 6,400.
- One of the relatively rare/solid buy signals one would expect to see over a 12 month period for a stock or market.
- November price channel floor at 6,400 – above which targets towards 6,800 initial 4-6 week timeframe scenario.
- Quiet action without excessive volatility means that the risk is around 50 -70 points with only an end of day close back below the 200 day moving average or October 6,386 intraday floor cancelling the upside scenario.