We held a major support level at 5855 on Friday which keeps the major trend bullish however we were unable to avoid a negative outside week as the FTSE closed under 6000 (a negative signal). This will create uncertainly in the market for traders and I therefore expect a week of consolidation between 5900 and 6050 until the next major move is confirmed. A negative outside week is when the FTSE makes a new high and new low when compared to the previous week and also closes below the previous week's low.
Today's trade set up
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