Good weekend to all
Wishing everyone a prosperous trading week
OK - so where are we?
Daily - break out above 7600 based on commods = Oil rally on Ukraine fears
Hawkish central banks have failed to deter oil rally = FTSE resilient
So next step ?
1. Ukraine de-escalation - game of chicken to finish and USA/Russia to back down = CHINA laughing and getting more powerful = Oil prices to fall = FTSE fall
2 . Iran oil released on market = Oil fall = FTSE fall
Basically its all about Oil for FTSE 100
10 mins - vulnerable after gap fill 7670
60 mins - bear flag
Daily -- 7600 must fall before we get bearish on FTSE