FTSE 100 Forecast for the week of August 27, 2012, Technical Analysis

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The FTSE 100 Index had a rough five sessions as the London index suffered as the “risk off” trade seems to be coming back into play. We do see the 5700 level below as support though, and as such we think this is a limited move. In fact, on a supportive candle at the 5700 level, we are more than willing to go long of high beta British stocks. In order to sell this market, we need to see the 5700 level give way, and truthfully there is a lot of support below there that makes us fairly nervous of going short anyways.

FTSE 100 Forecast for the week of August 27, 2012, Technical Analysis

FTSE 100 Forecast for the week of August 27, 2012, Technical Analysis

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About: FX Empire Analyst - Christopher Lewis

Christopher is a part of the FXEmpire.com analysis team. He writes Forex and Commodities technical analyses on daily and weekly basis. Christopher writes his analyses in a professional and yet simple to understand manner. His analyses are available in both text and videos.

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