We have removed our potential long entry zone from our FTSE 100 forecast. The current upwards move looks corrective in nature and has spent most of the last week trapped between 2 confirmed trend lines. If the FTSE 100 can manage to push up out of this range within a week then we believe there could be another short opportunity with up to 400 points available to the downside.
If such a move were to happen then this “could” spell significant medium term danger for the FTSE 100 as a breach of the “thick white line” could take the FTSE 100 to much lower levels.
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