FTSE 100 forecast for the week of October 22, 2012, Technical Analysis

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The FTSE 100 had a strong showing over the past week, but failed to break above the 5950 level again. This looks like a consolidated market, but if you look at the lows they are getting higher overtime. A lot of times that will signify pressure building to the upside before a potential breakout. We believe that that is exactly what is about to happen, and see the 6000 level as the gateway to much higher prices. In fact, once we get above 6000 we are more than willing to buy-and-hold in this marketplace.

 

FTSE 100 forecast for the week of October 22, 2012, Technical Analysis

FTSE 100 forecast for the week of October 22, 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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