FTSE 100 Index Forecast September 24, 2012, Technical Analysis

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The FTSE 100 had a very flat session on Friday as the market simply treads water above the 5800 level. It looks currently that we are trying to build up some type of momentum to continue to gain, and this is true not only in the FTSE, but many of the indices around the world. We are still bullish of British stocks, and do believe in buying the dividend paying ones as the market will pay you to wait.

We think this market looks very attractive above the 5900 handle, and as such would buy at that point time via the ETF market. If you have the ability to trade CFDs, you can also use those in order to limit your risk. This is mainly because we see a lot of choppiness above the 5900 and below 6000. Going forward however, on the longer-term charts we think this market will breakout to the upside.

 

FTSE 100 Index Forecast September 24, 2012, Technical Analysis

FTSE 100 Index Forecast September 24, 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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