A new high for 2021 (NOT AN ALL TIME HIGH) is looking more probable for the FTSE 100. Yesterday’s actions, in particular a good break through our unconfirmed trend line, has brought our “scenario A” and BIG RED LINE back into play.
In the next few sessions we need to see whether the FTSE attempts circa 7250 and our “dotted red line”. This is an important “support” trend and we are keen to see if it acts as resistance. The timing of this entry is also interesting as it aligns with our main view on the SPX Index.
Entering a short at the lower entry zone should be done with great care.
A much more interesting target is at the end of the month/ beginning of November at over 7400.
Remember – be disciplined.
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