FTSE 100 Index Forecast October 10, 2012, Technical Analysis
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The FTSE 100 and Index had a very negative session on Tuesday as the shooting star from Monday triggered sell orders. The 5800 level is broken down below now, and as such it looks like we are heading towards the 5700 level. At 5700, we will have to ask several questions of this market. 5700 is roughly where the gap back in July occurred, and if that gives way, we could see quite a bit of selling.
We believe that based upon many of the stock indices around the world that the “risk off” trade is currently favored, and as such we are not willing to buy stocks or stock indices at this moment in time. We think that money can be made by selling futures, and covering at the end of the day as there is plenty of volatility ahead.
FTSE 100 Index Forecast October 10, 2012, Technical Analysis
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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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