FTSE: Another index where the MACD is threatening to turn bullish. Chart & Levels from Analyst, Nicole Elliott – Investors Chronicle

 

FTSE SHORT TERM TRADER: Short at a couple of levels; stop above well 7710. Target 7400.

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

~~~~~~~~~~~~~~~~~

May Day Chequers chucked

At 11:30 pm last night Brexit secretary David Davis handed in his letter of resignation from Theresa May’s cabinet, effective immediately; he is joined by Steve Baker, a minister in the same department. His letter is forthright, saying, ‘’the Cabinet decision on Friday crystallised this problem. In my view the inevitable consequence of the proposed policies will be to make the supposed control of Parliament illusory rather than real…the ‘common rule book’ policy hands control of large swathes of our economy to the EU and is certainly not returning control of our laws in any real sense’’.

Torrential rain, flooding and landslides have killed at least 100 people in Western Japan and many are missing; two million have been evacuated from their homes. Today many have no electricity and no running water, and temperatures are expected to reach 30C. Automaker Mazda has closed its head office in Hiroshima and suspended operations at several plants.

Financial Markets & Political Commentary

 

Tags

, , , , , , , ,

Related Posts

About the author

High profile, trusted, veteran Technical Analyst with over 25 years’ banking experience. Key expertise in all areas of Treasury, especially foreign exchange, derivatives, fixed income and commodities. Acknowledged for personal contribution to new developments in the industry. Well regarded by the media for provision of accurate forecasts, succinct copy and entertaining sound bites. Thrives in dealing room environments – excellent interpersonal skills and a strong communicator with extensive business contacts. Looking for suitable and interesting opportunities.