FTSE 100 fut: 7390 barrier sounds toppish for the next days - Natixis

According to Micaella Feldstein, Research Analyst at Natixis, as the daily stochastic has turned around and as the daily volatility has stabilized for FTSE 100 fut, the 7390 barrier (daily Bollinger upper band) sounds toppish for the next days.

Key Quotes

“We rather see some pullback to 7300-7311 (9-day moving average) ahead of 7273 (daily Bollinger moving average) and the support at 7233-7239 (daily parabolic).”

“Caution will be in order as a drop below this last threshold would provide fresh bearish momentum, signaling a more pronounced downside correction to 7139 (daily Bollinger lower band), to 7096 and even the support at 7042 (weekly Bollinger moving average). Note that these dips are seen as corrective and won’t affect the LT upside channel.”