We discussed the importance of 5860 yesterday. The market briefly rallied over this level and then closed the day 2 points below. This was a short term sell signal and it was confirmation that the market did not have enough buyers to sustain daily activity over this key level of resistance. A similar signal came just before the Japanese nuclear sell off a few months ago when the FTSE also closed just 1 point under a key support area. Its a big reason why I pay particular notice to the actual FTSE closing level. Please note I do not use spread betting companies to obtain this information and its important you obtain the ''real'' index closing level. There are many free sources on the internet to find this.
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