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.
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.
