SaxoTV

Neighbour: Expecting deeper correction on FTSE 100

189 views
Joe Neighbour is expecting a "deeper correction" in equity markets today and he's looking to trade moves on the FTSE 100.

Joe makes the following points:
-The heavy selling in the last few sessions has been fierce
- My view is that this may not be finished just yet
- Yesterday was a key session as we broke below key support at around 6700 and the 200 day moving average
- Notable increase in volume yesterday supports the bearish view
- Therefore my trade for today is to sell into strength towards the new resistance at 6700 in anticipation of a deeper correction
- I think we could possibly see downside towards the next support level at around 6550
- Placing a stop loss 50-70 ticks above to allow for some volatility

Disclaimer

Saxo Bank Group provides an execution-only service. All information provided on Tradingfloor.com is solely for general information. Tradingfloor.com does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of our trading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. Saxo Bank Group will not be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available as part of the Tradingfloor.com or as a result of the use of the Tradingfloor.com.

Please read our notification on

Non-independent investment research disclaimer

Full disclaimer