Good morning
The FTSE remains range bound for the moment in the week leading up to expiry (Friday).
As stated yesterday, the form of the next correction will determine whether we are set to rise and test the highs at 5800 and even 6000. City analysts are bullish at present give the technical chart pattern. I'm not buying this scenario at present given the factors I mentioned yesterday associated with this rise. In summary:
- Low volume
- Bearish divergence
- 5 wave up
- Many gaps left on the way up
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