Capital Trust
Capital Trust

Dec 08, 2016

10:59 PM EDT

  • New York close
  • London close
  • Tokyo open
  • Sydney open
Market Analysis

Home » Featured » FTSE, Technical Analysis for November 30, 2015

FTSE, Technical Analysis for November 30, 2015

Posted by FXTimes in Featured - November 30th, 2015 12:28 pm GMT

The daily chart view presented here might be indicative of a potential correction ahead, after the indice had touched 6400 levels last week. FTSE is seen to be trading around 6360/70 levels now, looking to drop lower towards 6180/6200 levels at least, before resuming its rally. It is too early to confirm that the indices has topped out at 6400 levels to continue dropping below 6000 levels, but a correction lower is very much due. Immediate support on this view comes in at 6217 levels while resistance is seen at 6488/90 levels respectively. Only a drop below immediate support trend line, passing through 6070 levels, would prove to be extremely bearish. Also please note that the RSI is also turning lower from just ahead of 70 levels, which favours a correction at least.
Trading recommendations:
Flat for now. Look to buy on dips towards 6200 levels.

Share!Share on FacebookTweet about this on TwitterShare on LinkedInShare on Google+

No comments yet.

You must be logged in to post a comment.

Forex, Commodities, Indices

Daily Updates

Daily Updates

Get the latest fundamental analyses, technical analyses and the most up-to-date Forex news catered to your interests, everyday.