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Why I would sell the FTSE 100: Lambert
The FTSE could be on the cusp of a sell signal as the last four to five months are looking like a big head-and-shoulders, says Clive Lambert of FuturesTechs.
Lambert says that the neckline of this pattern sits at 6,688, was tested yesterday, and held.
However, if it breaks he sees a sell signal and using the classic “measured move” technique for this pattern, Lambert targets 6,260.
His interim targets are at 6,617, 6,531 (200 day SMA) and 6,301.
Clive Lambert explains the background to a selected trade every Friday on TradingFloor.
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01:44 minutes
Tags: clive lambert futurestechs, ftse 100 index, nfp, non farm payrolls, saxobank.com, saxotradergo, tradingfloor.com
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