Morning Call by Greg Secker

Last week the FTSE ended Friday’s session with a gain of 85 points to reach 4,377 and an entire week of upward movement. Having crossed and held a position above the 20 period exponential moving average the next target is the 50, currently around the 4,600 level. With only low-level news out today, look for the break of 4,400 level for upward directional movement and the 4,100 level for the downside. Last Friday the Dow Jones closed up 144 points ending the week at 9,325 Today with ISM (the Institute for Supply Management) Manufacturing and Prices Paid reports out at 3 pm Greenwich Mean Time look for sustained movement above the 9,280 level for upward direction indication and a breach of 9,000 around the newsbreak should these be negative. Oil is trading at $67.81 a barrel and Gold is currently at $718.20 a troy ounce. Good trading and I will speak with you tomorrow.