FTSE 100 Forecast September 3, 2012, Technical Analysis
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The FTSE 100 Index fell during the session on Friday, but did bounce a bit off of the 5700 level. This area is the start of a fairly significant support level down to the 5500 level, and as such we are looking for supportive action in which to buy British stocks from. A look at this chart suggests to us that we could very well see it in the next couple of trading sessions. With this being said, we are still bullish of the FTSE on the whole, and will be looking for opportunities to go along of the market either through ETF’s, futures, or higher beta British companies. As for selling, we really aren’t interested in till we get below the 5500 support level.
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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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