FTSE pauses strong start to the week
The move higher in the FTSE 100 this week has brought it back from the brink, to a place where people are beginning to be bullish once more. However, there are signs that we could be due a retracement, with the failure to create new highs above 6858 and a new low created this morning. As such, I am awaiting the next leg to see if we are going to push towards the head and shoulders projection (6870) or retrace back towards 6808. Thus a move below 6833 would provide a more bearish outlook for the day, whereas a move above 6857 would look like a continuation higher.