The FTSE 100 continues to move in line with our forecast. We would like to see some more downward movement towards 7270 before a bounce up to our thick red line at around 7460 where there is currently a low risk short opportunity. We’re not recommending new long positions at 7270 as the FTSE 100 Index does have the potential to fall to 7150. If this happens we would then consider a long and push the timing of the short entry out a little.
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