TechnoMeter

There is support between 6230 and 6200, with the 6/1 swing low at 6149 as the next level of significant support. As long as the spike day high (6323) keeps a lid on the market, we expect the market to be range-bound, with weakness unfolding in the very near-term.



A range-bound UK stock market and currency as the next two weeks up to the EU referendum makes sense on this end as the pendulum swings from ‘stay’ to ‘leave’ within its own slight range at this time; its marginal between the two sides according to the polls, which aren’t necessarily all that reliable. No-one really knows at this juncture, and with that we are seeing that indecision in the marketplace.


more...