The FTSE 100 initially fell during the week, but found enough support at the 7300 level to turn around and form a bit of a hammer like candle. Ultimately,
The FTSE 100 initially fell during the week, but found enough support at the 7300 level to turn around and form a bit of a hammer like candle. Ultimately, the market should go looking for 7500 on any type of positivity, and I think that if we can break above there we can continue the longer-term uptrend. If we were to break down below the 7300 level, I think that the market will probably have to drop to the 7100 level to find longer-term support. The uptrend is still intact, but has been decelerating as the British pound has strengthened lately.
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.
