FTSE 100 Index Forecast September 17, 2012, Technical Analysis

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The FTSE 100 had an impressive showing on Friday as we broke through the 5880 level and all the way to the 5925 area. This looks like the market has broken out of the significant near-term resistance, and we are now set to challenge the 6000 handle.

With the quantitative easing around the world, assets such as stock should continue to gain and there’s really no reason why this indices should be any different. We like buying British high beta stocks such as banks, as they are obviously being supported and futures markets as well. On dips, we are more than willing to buy FTSE futures as we think the 6000 level eventually gives way. As for selling, we don’t see opportunity to do that until at least 400 points below current levels.

 

FTSE 100 Index Forecast September 17, 2012, Technical Analysis

FTSE 100 Index Forecast September 17, 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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