Last week saw the FTSE 100 turn down in line with our short term forecast. The question is how far will it fall before it finds some support.
We see no reason to change our current projection which expects a fall to a least 7250 and we are letting our short run towards this level. The difficulty will then be to try an establish whether this is a safe place to go long – or simply sit on the side lines until things become clearer.
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