FTSE-100 INDEX – HIGHER TARGET
Short and medium up. Long term technically sideways.
Buy on pullbacks. an inverse head and shoulders (as labelled). That’s pointing to a higher medium-term target of 19 500, measured as the height of the inverse head and shoulders projected up.
close below it (17 500) will begin a short-term correction. reversal up off line 3 (17 500) will be a new buy signal. But if it closes below line 3 look for a pullback to 16 700, where you should start buying large cap industrial stocks. buy at the 16 000 level or lower over the coming months because weekly oscillators (not shown) are overbought.