macro environment which is still very clouded and very troubled, so stock-specific risk is very high. said Tim Parker, technical analyst at Westhouse Securities.
We have lost momentum in the last couple of months (on the FTSE 100). We are in a sideways trading range of 5,950 to 5,700 points ... So it's watch and wait at the moment. If we get a breach of 5,700, then you could argue that there is a series of lower highs and lower lows that could be the beginning of a new downtrend and 5,500 would be the target support. ($1=0.6302 British pounds)