The FTSE 100 Index initially rose to the 5980 level on Thursday, but formed a shooting star after massive resistance pushed it back down. If you’ve been
The FTSE 100 Index initially rose to the 5980 level on Thursday, but formed a shooting star after massive resistance pushed it back down. If you’ve been listening to our videos, you know that we did not suggest that this market was broken out until got above the 6000 level, and as a result you would’ve stayed out of this potential loss.
With this being said, it does look like a market ready to pullback, but probably only for very short amount of time. We still think that 5900 will show significant support, so we are more than willing to buy down there on signs of support of price action.
FTSE 100 Index Futures Forecast December 14, 2012, Technical Analysis
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.
