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JUNE collapsed 130 factors from 4144 on Thursday and one other 100 to 3930/20. Additional losses are anticipated to 3865/55 earlier than a retest of crucial help at 3820/00…the place I accurately known as a low for the correction final month, so clearly that is key to course for the summer season.
Positive aspects are prone to be restricted with first resistance at 3930/40 then sturdy resistance at 3960/70. If we unexpectedly proceed increased anticipate very sturdy resistance at 4000/10.
JUNE broke help at 12410/370 for a promote sign within the morning hitting targets of 12100/050 and 11900/850 as we search for 11600/550 and a retest of the Might low at 11491.
I doubt this can maintain a second take a look at and a break decrease is an apparent promote sign focusing on very sturdy help at 10800/700. This might be key to course over the summer season and a break decrease might be disastrous. Positive aspects are prone to be restricted within the bear pattern with first resistance at 12000/100 and robust resistance at 12250/350. Shorts want stops above 12450.
JUNE crashed virtually 1000 factors final week—in truth, virtually 900 in simply the final 3 days. broke sturdy help at 14200/150 to focus on 13900/800 and possibly 13600/550 this week. Ultimately we may proceed decrease to 13480/430 earlier than a retest of very sturdy help at 13250/150.
Positive aspects are prone to be restricted with sturdy resistance at 13900/14000, however sturdy resistance once more at 14100/200. Solely an increase above 14300 turns the outlook constructive.
JUNE collapsed 344 factors from resistance on the 2022 excessive at 7615/45 in simply 3 days) after I warned: HOLDING THIS RESISTANCE FORMS A RARE BUT VERY NEGATIVE TRIPLE TOP SELL SIGNAL.
FTSE crashed so far as my decrease goal and robust help at 7320/00. Longs want stops beneath 7280. A low for the day however no bounce so be able to promote a break beneath 7280 focusing on 7225/15, maybe so far as 7140/20. A bounce from sturdy help at 7320/00 targets 7370/80. Robust resistance at 7415/35. Shorts want stops above 7460.
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