FTSE monthly- remain weak below 6825 tgts 6640 and 6510

FTSE monthly- remain weak below 6825 tgts 6640 and 6510

FTSE 100 index December 2016 outlook

FTSE 100 index last closed at 6730 with loss. On chart, FTSE price trend and momentum both looks weak and given bearish breakdown below 6825. For month of December 2016, FTSE below 6825 remain sell or bearish and heads towards my targets 6640 and 6510. Though short term charts indicators are entering oversold area so keep strict stop loss for sell positions. Expect reversal and uptrend above 6825 only on weekly closing basis. On reversal breakout, go long and expect targets up to 6960 and then 7140.

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Pramod Baviskar

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