The FTSE 100 has recovered slightly since Friday’s fall but it is now wedged between 2 confirmed trend lines.
The winner of this battle will decide where the FTSE 100 goes next.
We currently see 2 main paths for the FTSE 100. Both lead lower but one has some more upside.
The FTSE will continue lower this week which will provide a long opportunity between 6800 and 6955. This a large range at present but a very narrow time window.
The FTSE will recover throughout the week and into next week before falling into the middle of December. It is possible that our stop will be hit if the upper unconfirmed trend line is hit before the 9th December. As a result the more risk averse of you may want to exit your shorts now.
Finally we have placed a limit on our active FTSE short at 6966.
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