Ft-se traded lower yesterday making a new low of 5740. Trend line resistance comes in at 5768 and above here we see resistance 5771 this is the pivot point a break here will give us scope to trade up to 5780 this is the 61.8% fib retracement level, if we manage climb above here this will give us a target of 5804 the 50% fib level attempts shorts here as the market will need a correction.
The daily stochastics are still bearish and look like they have some way to go on the downside, the 240 mins and 60 mins are looking over sold.
To the downside we have support at 5739 this comes from the low and a rising trend line, we then have 5729 which is pivot support this then entices 5708 the 100 day MA if we manage to break this level the target will become the 100% fib retracement from the 1st of October 5700.
The article was first published by CharmerCharts