FTSE 100 Index Forecast September 20, 2012, Technical Analysis
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The FTSE had a positive session during the Wednesday trading session as the hammer from Tuesday still proved to be supportive. We still see the 5800 level as fairly strong support, and as such are not willing to sell the British stocks on the whole. We believe that plane a directional play via ETFs could be a good way to capitalize on the upward pressure in the FTSE.
The 6000 level still looks very resistive to us, and as a result we think that the road higher will be a little bit choppy. This is why we believe in the ETFs and not so much in futures markets. This will allow you to write of the volatility on the way up to the 6000 mark. Once we break above that level however, it should be relatively straightforward bullish momentum.
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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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