FTSE bouncing strongly

Well; we definitely saw some direction in the afternoon yesterday, as expected, with the indices finding strength across the globe. Volume is fairly low, so caution should be taken today. The FTSE 100 has rallied over 150 points from yesterday’s lunchtime levels, so may pull back a little before heading higher again. Technical indicators suggest some support at 5000 (Sep future) with resistance sitting just below 5100.

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About Simon Brown
Simon Brown has over 20 years experience trading Derivatives on everything from Gold, FTSE to Dollar/Pound. Simon has lectured in Trading Psychology, Strategy and Technical Analysis, in addition to regular appearances on CNBC television. He is now Managing Director of ProSpreads.

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