Tim Young, Day Trader at Ayondo, joined Tip TV to share the technical outlook for the FTSE 100 index.
FTSE remains a difficult call
Young takes a look at the technical charts for the FTSE 100, noting that the charts signal for a move upwards but the weekly momentum is heading lower. He further notes that the stochastics show a crossover but are not in overbought territory, instead they have moved down.
Young believes that all of this signals a wait and see outlook for the FTSE 100 and prefers to sit out of the footsie trade until a break is seen.