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Joe Neighbour: Buy FTSE 100

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Joe Neighbour from Central Markets is looking at buying the FTSE 100. He explains that the FTSE held up better than its European peers in Thursday’s session and has fallen to an interesting level. On Joe’s chart he has a number of trend lines across different time frames, the longest one dates back to 2011. All of these trend lines are clustering around the same level, which is 6615 – 6595. Joe says the daily chart remains in a positive sequence of higher lows, and as a result he is looking to buy with a target entry between 6595 – 6615, a stop loss at 6520 and with a short term target 6765.