With the FTSE putting in a new high today, its compelling to try a SHORT from these levels.
We at Carleton Capital are SHORT from 7100 with an open target and a STOP above the record high at 7135.
Its a tough task to call a top in any market and with continued accommodation from the Bank of England and with sterling weakening this trade may not run too far but with overbought conditions on several time frames we may see a pullback back to 7000 before a possible new leg higher depending on fundamentals.
We at Carleton Capital are SHORT from 7100 with an open target and a STOP above the record high at 7135.
Its a tough task to call a top in any market and with continued accommodation from the Bank of England and with sterling weakening this trade may not run too far but with overbought conditions on several time frames we may see a pullback back to 7000 before a possible new leg higher depending on fundamentals.
Comment:
STOP moved to 7094 for +41