Manoj Ladwa, Partner with TJM Partners, joined Zak Mir and Bill Hubard on the Tip TV Finance show to discuss the issue and future outlook for the FTSE 100, and a brief look at crude oil.
If we stay below 6270, we could see 5000 on the FTSE 100
Ladwa highlighted that the issues in Greece concerning the bailout and election, as well as the more influential China meltdown and a hit for equities, has resulted in the FTSE 100 being very volatile. He expressed that staying below 5800 would see an aggressive move down, and Mir added that even below 6270 could see the fall to 5000 in the FTSE. On the other hand, Ladwa also noted that if the FTSE 100 headed back through the highs of around 7100, there is potential for an upside move.
At the end of the US driving season, how can we be positive on oil?
Ladwa continued by expressing his view that there is the potential for upside in Crude oil as people begin to bottom fish, after the price ticked back above $40 this morning.
Meanwhile, with the end of the driving season in round a week from now, Hubard found it hard to remain positive on oil.