ftse binary betting daily chart ftse 100

FTSE 100 - daily candle chart 28th September 2010

The ftse 100 closed yesterday’s trading session in London with a strong signal on the daily chart, as the equity markets ended a volatile day, closing marginally higher, but with a deep wick to the lower body. The candle was created following a fall in the London stock market during the morning session, which was then reversed later in the day as US equities turned higher pulling UK shares up as a result. The key point to note from the candle is the low of the day, which touched, but failed to breach the 20 day moving average, giving us a strong trading signal that the index is likely to bounce higher in trading today. Indeed this view has been reinforced overnight with Asian and Far East markets rising once again.

This morning’s binary bets should therefore be to the long side, with either no touch bets or one touch bets the favourites for both short term and longer term binary betting strategies on the FTSE 100. The longer term target for the index is 6000 and above, by the end of the year, and a break above the key technical level of 5833 of April 2010 will provide the necessary platform for a sustained and prolonged bullish trend to this psychological level and beyond in due course.