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.
WHAT CHANGES THIS?
- 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