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FTSE Future Bull Theme Re-energizing; June Threat To Critical 6995/7000

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FTSE Future Bull Theme Re-energizing; June Threat To Critical 6995/7000

UK benchmark aims through 6880.0

  • We stated in our last report that “the inside Wednesday consolidation above the gap leaves a positive bias intact for late May and risk up to 6852.5/55.0”.

  • The strong rally Thursday above 6852.5 has signalled a re-energizing of bullish pressures to leave risk through the 6880.0 peak through month-end.

  • This would then open upside risks for Fibo targets at 6927.0 and 6963.0 with threat to the all-time high at 6995.0 and psychological 7000.0 into June.

  • The 8-day RSI, short-term momentum is positive, but not OB, leaving scope to go still higher this week.


  • Below 6813.0 eases bull risks; through 6782.0 signals a neutral tone, only shifting negative below 6762.5.

Daily FTSE 100 Future (Adjusted Continuation) Chart


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Steve Miley is The Market Chartist and has over two decades of financial market experience with him. He spent 2009-2012 as a Director of the FX Technical Analysis Research Strategy team at Credit Suisse and was previously at Merrill Lynch for 15 years; 10 years as a technical analyst, 5 years in Fixed Income sales.

He was 2013 winner of the Technical Analyst Magazine Award for Best Independent Fixed Income Research & Strategy, Runner Up for the same award in 2014 and was the winner of Best FX Research & Strategy 2012 (at Credit Suisse).

Steve is a Member of the Society of Technical Analysts (MSTA) and holds a Masters Degree in Politics, Philosophy & Economics from Lincoln College, Oxford University.

Steve has covered all major asset classes including Rates & Credit, G10 & EM currencies, Equity Indices & Sectors and Commodities and has strong relationships across the institutional financial trading spectrum, including Central Banks, Real Money accounts, Hedge Funds and other Global Corporates.



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