The FTSE 100 gapped higher at the open of the week, and then slammed into the 7300 level. However, we gave back almost all the gains and it looks as if
The FTSE 100 gapped higher at the open of the week, and then slammed into the 7300 level. However, we gave back almost all the gains and it looks as if we’re going to continue to grind to the downside. I would expect support at the 7100 level, and perhaps even the 7000 level. Because of this, I think the market needs to drift a little bit lower but I’m not quite sold on shorting just yet. I expect quite a bit of volatility and therefore it’s probably difficult to trade from the longer-term perspective.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
