How FTSE 100 is on track to break 7,700

Written 4 May 2018 – 00:21

FTSE for Friday (FTSE:UKX)

For the FTSE 100 (UKX) on Friday, it looks like the market is heading up. The bigger picture continues to decorate an attraction above 7,700 in the future.

Despite some pretty lacklustre moves in the last week, little has happened to dispel such a notion.

Near term, growth bettering 7,545 points should prove capable of some travel to an initial useless 7,560 points. Apparently, if bettered this allows continued travel to 7,584 points, perhaps beyond if bank holiday weekend frivolity takes place.

The market closed yesterday at 7,504 with a day low around 7,492. Ideally a stop loss should be just below 7,492 points.

What happens should 7,492 break?

A drop to an initial 7,476 makes sense. If broken, secondary comes in at 7,445 points. If triggered, stop can be 7,541 points.

Have a good weekend.

Source: interactive investor            Past performance is not a guide to future performance

Alistair Strang has led high-profile and “top secret” software projects since the late 1970s and won the original John Logie Baird Award for inventors and innovators. After the financial crash, he wanted to know “how it worked” with a view to mimicking existing trading formulas and predicting what was coming next. His results speak for themselves as he continually refines the methodology.

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