FTSE250 Update - Good run stretched

FTSE250 has had a very good run of late, no one should be surprised if from here there is at least a decent pullback. More a reflection of the UK economy than the FTSE100, the 250 has defied bear hopes that it should be going the other way. No one should be surprised though that on the expectations of economic improvement to come, the FTSE250 is looking ahead.

Of the two charts, daily and weekly, the latter still looks the more positive. Daily MACD is suggesting that a pullback is on the cards, although it will be interesting to see if we get a period of divergence before price falls. MACD is still a long way from the zero line and the weekly chart gives more hope that this will be a pullback within the prevailing bullish trend. The 250 could lose 1500 points before hitting areas of major support at around 12100.

Charts:

FTSE250 - Daily

FTSE250 - Weekly