Friday 8th January 2016 – Morning

Friday 8th January 2016 – Morning

The FTSE managed to recover some ground overnight and this was reflected at the open as the FTSE slowly clawed its way back past the 6000 level. I think it may be one of those days where the market just keeps grinding up and possibly sells off towards the end of the day as traders close positions over the weekend given the current market climate. I’ve drawn a trendline on the 5minute chart which seems to be holding thus far, and may trade off that around key levels or any potential divergence patterns that develop. Another key resistance level to watch is 6014 which has been prior support (see hourly chart) and the market was just shy of it this morning, so may trade any re-test.

H026. FTSE FRI 08012015 AM