Bullish daily Hammers at June’s low and a 50% pullback to the Apr-May FTSE 100 gains, has left signals in each of the last 4 days as bullish and these have been confirmed with gains of 127 Pts since last Monday’s close. A sequence of lower weekly highs has been ended which is supporting the positive outlook, though bullish investors are likely to be cautious with futures trading back towards this year’s 14 year high at 6880.0.
However, with no sign yet that demand to buy dips is ending, the outlook for this week’s remains bullish, buying on the open and at 6775.0, Thursday’s opening trade, with a stop loss at 6725.0.
Targets are to 6839.5, the 3 week high, 6873.0/80.0, June & May’s 14 year tops and 6995.0, the all-time top posted in 1999.
