Quarterly Outlook
Macro outlook: Trump 2.0: Can the US have its cake and eat it, too?
John J. Hardy
Chief Macro Strategist
Technical Analyst, Saxo Bank
FTSE-250 bounced from 18,500 and currently trading around the 0.50 retracement at 19,500. Further upside to the 0.618 retracement at around 19,713 could be seen but if RSI is rejected at the 60 threshold it will l be an exhaustive move quite likely followed by bear trend to resume.
If the FTSE-250 drops back below 19,000 selling pressure is likely to intensify and push the Index to test the July lows around 18,288.