Sideways action and uncertainties mean rallies are likely to be sold off today

A break of 7250 today is bearish

7270 is very key and a reference level!

A huge 2% move yesterday on the FTSE which was very unexpected

MAGNETIC FTSE Trading Report - 24 April 2017

The markets have bounced over night on the french election and I expect some of the gains to retrace as its a large move based on news which does not have relevance to all the FTSE 100 stocks.

If we rally today look at the ftse to finish down on the day binary.

MAGNETIC FTSE Trading Report - 20 April 2017

The short term trend has turned down whilst below 7240 so selling rallies is a good strategy from 7160 and higher.

MAGNETIC FTSE Trading Report - 19 April 2017

The FTSE confirmed it head and shoulders pattern yesterday so a move to 7000 is now a target which is also the MA 200.

MAGNETIC FTSE Trading Report - 18 April 2017

A break of 7300 would open up weakness at this point with the extreme gap failing to fill on Thursday at 7347.

MAGNETIC FTSE Trading Report - 13 April 2017

We are going into Easter weekend so expect rallies to be sold off today.

Early strength after the open is a selling opportunity from 7348 and higher. Expect to see the 8am open price re visited.

Above 7320 the FTSE price action is bullish with 7430 as a target

Binary tunnels selling the 35/40 range are good to go today.

7281 is the reference point for direction today

MAGNETIC FTSE Trading Report - 05 April 2017

The FTSE is in between 2 key levels at 7340 and 7280. A decisive break of either of these levels will dictate the next move.

We have a head and shoulders pattern forming if we break 7280

The ISA cut off date is 5th April so this could also attract some buying this week on the FTSE.