FTSE remains choppy and unpredictable
Yet again, the FTSE is the troublesome character out of the three markets we cover here, with significant choppiness and unpredictability characterising the beginning of this week. We do have a rough broadening formation, showing that volatility is rising as we progress but for now, this market is a difficult one to trade.
Given the lack of direction, I would prefer to sell into rallies up to 6378 and buy at 6300. However, it would make more sense to await a good breakout to determine a strong trend. Given that this current move lower represents a shallow retracement of the 15 October rally, my bias would be for an upside breakout above 6400.