The FTSE 100 is still facing resistance at the 7540 to 7555 area and failed to break though this yesterday as well. The Dax short worked well from the 13091 though I closed that a bit early (benefit of hindsight!) as it dropped down nearly 60 points so there are some bears around but they are pretty weak.
The 2 hour chart on the FTSE has gone bearish again and is showing resistance at the 7540 level, while we are also sat right on the bottom of the 20 day Raff channel here at 7530. The FTSE is being driven by cable at the moment and also as Brexit negotiations are ongoing, which is why its being a bit choppy.
For today, we might well get a bit of a push up (its still technically bullish) though a dip down to the 7460 area would make sense for more longs to load up there. That though is dependant on breaking below 7500 which is support for the moment.
If the bulls get their FTSE mojo back then a rise towards 7600 is still viable, and possibly higher, possibly the 7660 area.
For today I am thinking that we will see a rise towards R1 and the 7555 level but until 7565 breaks (the recent high) then shorting this area to target the 7500 looks viable. If we get a decent dip down though then that is likely to see some buying.