Support – 6654, 6615-6600, 6476 (100-DMA)
Resistance – 6723, 6764 (H&S neckline), 6800
Overnight action isn’t exciting
US stocks surged following dovish comments from Fed’s Brainard. Meanwhile, Asian stocks opened higher, but failed to hold onto gains and fell back into losses.
Consequently, FTSE100 may either open higher and retreat or open with losses.
Overall, today’s day end close is important. A day end close below 6764 (H&S neckline) would add credence to yesterday’s bearish break and open doors for 6500 levels.
On the higher side, only a recovery above 6764 would signal bearish invalidation.
Resistance – 6723, 6764 (H&S neckline), 6800
Overnight action isn’t exciting
US stocks surged following dovish comments from Fed’s Brainard. Meanwhile, Asian stocks opened higher, but failed to hold onto gains and fell back into losses.
Consequently, FTSE100 may either open higher and retreat or open with losses.
Overall, today’s day end close is important. A day end close below 6764 (H&S neckline) would add credence to yesterday’s bearish break and open doors for 6500 levels.
On the higher side, only a recovery above 6764 would signal bearish invalidation.
