The FTSE 100 futures market did rise above the 5900 level, which of course is a significant area of resistance. However, we see this resistance expanding
The FTSE 100 futures market did rise above the 5900 level, which of course is a significant area of resistance. However, we see this resistance expanding all the way up to the 6000 level and as a result is that we are not ready to start buying yet. That being said, we certainly aren’t looking to sell at this point though.
Because of the resistance, we have to wait until the buyers can overcome the 6000 level to get involved. Buying this market here would simply be too risky as we see significant resistance all the way up to that level.
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.
