FTSE 100 needs to prove itself, otherwise lower

My previous post summarised my early 2023 reasoning to avoid the FTSE 100. Whilst that index is only 5% lower since then, the way I look at it, is there was little purpose to being actually exposed to the risk.

Today, the price action tells me that the #ftse100 needs to make a higher high’ to break it out of a consolidation funk.

Should it trade below 7,215, then probability of a move to the 7,030 area increases.

That is a further 5% below today’s level.

December 5, 2023

by Rob Zdravevski

rob@karriasset.com.au