FTSE 5766 Target Summer Low 5400

Weekly Pivot 5805 supports Bear move to 5700 next week with strong support at 5400 for a summer low in early July,  giving a total correction of 11% since the High of 6105 on Monday 2 May. Next full moon on Wed 15 June maybe the low with a target 5540 (S3) or 5406 (S4), with a possible retest by Friday 8th July

Trade	Price	Stop	Target	Low/High	S1/R1	S2/R2
Buy	5600	5570	5850	5891	5852	5938
Sell	5850	5880	5720	5758	5719	5672

YEAR	HIGH	DATE	LOW	DATE	Points	DAYS
2011	6104	03May	5644	16Jun	446	32
2010	5801	26Apr	4790	01Jul	1011	49
2009	4517	1Jun	4130	08Jul	387	26
2008	6377	19May	5071	16Jul	1306	42
2007	6750	18Jun	6496	27Jun	254	7
2006	6133	08May	5467	13Jun	666	26