FTSE100 seems to have stuck between 4520 and 4300 levels. This index has been forming a flag shaped pattern which is not a negative signal. Now, it would depend on which limit would it penetrate, 4520 on the upside or 4300 on the downside.
Daily chart: Quote.com
Favoured view is that it could penetrate the upper limit at 4520 in the days ahead. Otherwise, the short term traders should exit on a close below 4300 and wait for re-entry at lower levels. But a consolidation above 4300 would further strengthen this market.
Also click here for a long term chart view.
