Technical Forecast for FTSE 100
FTSE Sep13 beat 6580/86 today but has so far topped at 6612, short of the next target at 6625. We could still achieve the target & perhaps even test trend line resistance at 6635 but we should meet selling pressure within this area. Exit longs & try shorts with stops above 6640 for a test of August highs at 6669/70.
Immediate support 6588/85 then 6577/75 with better support at 6561/60 & a low for the day likely. However longs need stops below 6550 for 6536/34 & a buying opportunity.
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