Today we have the magnet so we could see some initial selling at the open and then buying coming in later on. 5470 is still a target in my radar and if the market trades to this level early on this would be a good buying opportunity. Price action below 5470 is a short term negative so if we do see the market hit 5470 I would expect the FTSE to bounce higher straight away. If we see price action break below 5465 this is short term negative and will delay any move towards 5600.
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