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Neighbour: FTSE to hit all time-high after vote of confidence in UK
After the Scottish referendum No vote, Joe Neighbour from Central Markets is looking at buying the FTSE 100 index. The clarification that Scotland will remain part of the UK removes some dark clouds that has been hanging over the markets for the past couple of weeks.
Joe expects the FTSE 100 index to open sharply higher and from a technical perspective the index appears to be completing a bullish flag on the daily chart. As a result of the consolidation pattern the target is for a move above 7000.
Joe’s trade today is to back the momentum and buy with a stop below 6750 and target a move towards 7000.
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