Monday's trading range was rather disappointing. Add to that annoying intra-day whipsaws and you wish you'd stayed in bed!Anyway, as you can see in the chart, the index has managed to touch the rising green diagonal line (which ends up being the lower line of an effective channel that FTSE has been moving along). So, the question now is: will FTSE bounce from here? My best guess is, it will probably attempt a bounce. Whether it will be a sustained bounce, only time will tell (and very soon!).
The trading range we've seen today happens to be the narrowest of the last seven days. Hopefully, we will see a big move tomorrow once a clear breakout occurs.
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