FTSE 100 Forecast September 3, 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 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.

FTSE 100 Forecast September 3, 2012, Technical Analysis

FTSE 100 Forecast September 3, 2012, Technical Analysis

Find a Broker
Continue to FX Empire Network