FTSE 100 Forecast October 11, 2012, Technical Analysis

posted
By FX Empire Analyst - Christopher Lewis
Print
Font Size
T
T
T
Get Forex buy/sell signals directly to your email and by SMS.
To learn more click here

The FTSE 100 had a very negative session on Wednesday as the "risk off trade" came back into play. The world is starting to become more and more concerned about economic expansion and as such riskier assets are selling off. We still see the 5700 level as an area of support, so unless you are already short of the market, we feel that the risk to reward ratio just isn't there.

However, we are starting to see signs of a possible head and shoulders. This would be confirmed if we could go below the 5680 level, and we could see quite a selloff in the process. If that happens, we would expect a move down to roughly the 5400 level, which of course is an area we see massive support.

 

FTSE 100 Forecast October 11, 2012, Technical Analysis

FTSE 100 Forecast October 11, 2012, Technical Analysis

Find a Broker
Continue to FX Empire Network