From a near term perspective, above 10.723 points is supposed to trigger gains toward an utterly useless 10,740 points. If triggered, the tightest stop loss point looks like 10,660 points. There’s another reason why this is worth mentioning as our secondary target, if this useless initial 10,740 points is bettered, calculates at a slightly more useful 10,882 points. Rather more importantly though, this would take the index into a zone where a longer term 11,319 points calculates as a viable longer term ambition.<\/p>\n
Of course, we’re approaching a Silverstone Formula1 weekend, a race which home champion Louis Hamilton is supposed to win. After all, with a prior 9 wins at the circuit, they should just award him the place without the annoying hindrance of an actual race spoiling what looks like a fairly good weekend.<\/p>\n
Unfortunately, the FTSE, like Mr Hamilton, doesn’t need do much to foul things up. Below 10,470 points would be troubling, risking triggering reversals down to an initial 10,376 points with our less likely secondary, if broken, calculating down at 10,265 points.<\/p>\n
We do suspect, if an effort is made to keep the UK marching in place, 10.376 will provide a reasonable rebound level…<\/p>\n
Have a good weekend and enjoy the race. Hopefully it rains on the circuit, giving drivers the chance to display their competence.<\/p>\n
FUTURES<\/p>\n FUTURES<\/p>\n![](\"http:\/\/www.trendsandtargets.com\/img\/ukx020726.jpg\")
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