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Neighbour: December US rate rise will bring FTSE down
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Joe Neighbour outlines his strategy to go short on the FTSE 100.
"The market grinded higher in yesterday’s session but the momentum indicators are telling a different story." he explains.
A 61.8% retracement level from the highs earlier this month to the lows seen a couple of trading days ago and the The RSI, on an intraday basis, is diverging negatively with the price which suggests the buying enthusiasm is beginning to wane.
Stop: 6375
Target: 6100