The FTSE looks set to open under an important sideways range between 5013 - 5323. If we see Acceptance (three thirty minute candle bars) below 5013 then this will indicate the FTSE is on target to hit 4700 and lower.
However, this has not been seen yet. A few key points today:
Its the first of a new month and funds (pension etc) usually commit new monies into the stock market on these days so we could see a short term bounce upwards at the open.
Obviously Greece is a major worry so we will use a low risk entry.
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