The culmination of the geopolitical tension in europe have brought us back down to my target from my previous trade idea. I am now looking for long term buying opportunities around the level of the 20 year channel I have previously highlighted. Sentiment will have soured on european stocks but growth likely curtailed to what degree I am not sure but I the FTSE was undervalued prior to this pullback and it is even more undervalued now.
In the short term I do see this carrying lower whilst the invasion of ukraine plays out and will take my first buy opportunity around 7150 level (base of 20 year channel). I can not see any circumstance in which the FTSE breaks 7000 here with the exclusion of the continued invasion of a NATO state but would not be shocked if we tested this level.
Further buy opportunites availble at 7110 and 6980. Hedging will be undertaken obviously.
Trade Safe!
In the short term I do see this carrying lower whilst the invasion of ukraine plays out and will take my first buy opportunity around 7150 level (base of 20 year channel). I can not see any circumstance in which the FTSE breaks 7000 here with the exclusion of the continued invasion of a NATO state but would not be shocked if we tested this level.
Further buy opportunites availble at 7110 and 6980. Hedging will be undertaken obviously.
Trade Safe!
