Clive Lambert of FuturesTechs explains why he is trading the FTSE.

“Two weeks ago I said on a Friday morning ‘buy the FTSE’. As it turned out that particular trade got stopped out. We stayed at those lower levels for a couple of weeks, only really waking up yesterday”, Clive says. 

Today the FTSE is set to gap higher. Yesterday’s high was 7,177 in late trade in the March ‘17 Futures, he adds.

Watch that, but if it doesn’t hold there is still another buying opportunity at 7,148-49. Buying a dip to either or both of these has merit, working a stop below 7,116, yesterday’s low.

Lambert suggests 7,250 and 7,300 as targets. The latter being the recent all time high. Above here 7,500 is an obvious “round number” target, Lambert concludes.

Lambert explains the background to a selected trade every Friday on Trading Floor.