Yesterday we discussed a key area at 5347 and requirement for the FTSE to fail between 5347 and 5360. At this stage we have seen a reaction back below and it remains the case that whilst we trade below this level, selling is preferable. If the market does trade above 5347 at this stage then I will have to change my view.
Today we do have a magnet but we look set to open below a risk area at 5297. If the market cannot make progress above this level shortly after the open then further selling is indicated.
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