TipTVFinance

FTSE 100 outlook

FX:UK100   FTSE 100 Index
The index is likely to open higher around 6090 levels, given the positive action seen in the index futures .

  • Failure to take out daily 5-SMA level of 6118 levels could trigger a fall back to 6073 levels (38.2% of Feb low-Apr high).
  • However, only a break below head and shoulder neckline level of 6052 would signal continuation of retreat from 6215 levels.
  • On the higher side, a day end closing above 6208 levels is required to indicate bearish invalidation.
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