FTSE 100 Index Forecast September 10,2 012, Technical Analysis
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The FTSE 100 had a positive session for Friday, but did not quite manage to break above the resistance area that it had been chewing through. Nonetheless, the fact that we didn’t really pullback on Friday after such a large gain on Thursday is a bullish sign. We believe that this market will continue higher, and are willing to buy futures on pullbacks as well as higher beta British stocks such as financials.
The 6000 level above is still massively resistive, so we think that any long-term trades need to be after this market is clear of that barrier. Nonetheless, it does look like overall London stocks should do quite well.
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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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