FTSE 100 Index Forecast October 2, 2012, Technical Analysis

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The FTSE had a very strong session on Monday as the 5740 level offered strong support. More importantly than that, the 5800 level was violated and closed above. This suggests that we will see stronger movement to the upside now, and it does look like we will eventually grind our way towards the 6000 level. There is a trend line that the market has been following, and the fact that we have such a bully session on Monday off of that trend line suggests that we will continue to move in the same manner.

With this being said, we think that even the futures market is safe enough to start buying the FTSE at this point. There are various ways to play this market, but we think as long as you give yourself enough time, you will realize profits. ETFs work, as well as the options market, and of course the futures market as mentioned previously. As for selling, we simply will not do it until we get well below the 5700 level.

 

FTSE 100 Index Forecast October 2, 2012, Technical Analysis

FTSE 100 Index Forecast October 2, 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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