The current headlines means intraday FTSE 100 trades remain quite tricky, but Tim Young, Day Trader, remains in favour of long positions for the index. Looking at the technical charts, Young explains how the Footsie has filled the gaps, but the short-term overbought levels indicate that a slight pullback might be seen.
The Weekly charts signal for a bullish outlook. Stochastics have bounced to the upside from the previous oversold levels, and a positive crossover is seen. The MACD might turn positive too. Potential for the 7000 mark Young sees upside potential for the 7000 mark and remains a medium-term bull, suggesting to stay long for the next few weeks.