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FTSE 100 Forecast December 12, 2016, Technical Analysis

By:
Christopher Lewis
Published: Dec 10, 2016, 05:16 UTC

The FTSE 100 had a slightly positive session on Friday, as we continue to reach to the upside. The 7000 level above is going to be slightly resistant, but

FTSE 100 daily chart, December 12, 2016

The FTSE 100 had a slightly positive session on Friday, as we continue to reach to the upside. The 7000 level above is going to be slightly resistant, but given enough time I think that every time we pull back the buyers will return to a market that looks very bullish. I will not sell this market I believe that every time we pull back, it offers the kind of value that you need in these markets. I believe that we will eventually break out to a fresh, new high and I have a target of 7250 over the longer term.

About the Author

Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.

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