FTSE: The commodity channel index has turned down but momentum is not bearish. Chart & Levels from Analyst, Nicole Elliott – Investors Chronicle

 

FTSE SHORT TERM TRADER: Short at a couple of levels; stop above 7800. Target 7400.

FTSE POSITION TAKER: Small short at 7799; stop well above 7800. First target 7400, then 7100.

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Merkel to do deals alone As a joint solution elusive

At yesterday’s emergency, mini-summit meeting of 16 EU leaders in Brussels to discuss migration (ahead of a proper summit of the European Council on 28-29 June), on arrival Chancellor Merkel said, ‘’we know that at the European Council, unfortunately, we will not have a complete solution of the migration issue’’. Therefore, she will look to cut deals directly with separate EU states. She added, ‘’there will be bilateral and trilateral agreements, how we can help each other, not always wait for all 28 members’’.

The Trader is taking a short mid-week break and will be back on Friday 29th June.

Financial Markets & Political Commentary

 

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