Good morning
The FTSE was closed yesterday and we had a fair bit of action out of hours. On Friday I mentioned we should have a short term bounce and positional traders should look at taking positions from 5220. The futures actually rose to high of 5266.
The markets are weak and buyers are not supporting higher prices. The trend remains firmly down. Only a move above 5310 would change my view that a break of 5000 is not imminent.
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