The FTSE 100 needs to show some strength this week if it is to hit the higher levels of our short entry zone.
Timing of the current pull back was perfect but the FTSE now needs to get back above the unconfirmed trend line (around 7270 today).
The short entry zone is currently very wide and we would like the FTSE 100 to get close to our thick red line for a low risk short.
We don’t recommend a long at this stage on the FTSE 100 as there is still some downside risk.
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