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FTSE 100 Index Price Forecast August 22, 2017, Technical Analysis
Updated: Aug 22, 2017, 05:45 GMT+00:00
The FTSE 100 gapped lower at the open on Monday, finding the 7300 level as support. We bounce from there, and then reached towards the short-term
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The FTSE 100 gapped lower at the open on Monday, finding the 7300 level as support. We bounce from there, and then reached towards the short-term resistance that was prevalent on Friday. We fell back towards the 7300 level, forming a hammer on the hourly chart which suggests that there is support here as well. Simply put, I think that the 7300 level is very important, and I believe that it’s not until we break down below the 7280 level that I would consider this market in trouble. If we can break above the 7340 level, then I think the market goes looking towards the 7400 level above. In the meantime, I expect seeing a significant amount of choppiness.
FTSE 100 Video 22.8.17
About the Author
Christopher Lewisauthor
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.
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