FTSE 100 Index Price Forecast September 12, 2017, Technical Analysis

The FTSE 100 gapped higher at the open on Monday, and then reached towards the 7425 level before pulling back. We did of turning around and pulling back to the 24 hour exponential moving average and forming a hammer on the hourly chart. This was the beginning of the markets coming back to the positive side. Most of the move was probably due to the markets breathing a sigh of relief about the tense North Korean situation, and that being the case I think it’s more of a “risk on” trade waiting to happen. I think eventually we go to the 7450 handle, and then eventually the 7500 level above. I don’t have any interest in shorting this market, I believe that we will continue to see bullish pressure over the longer term, especially if the British pound falls.

FTSE 100 Video 12.9.17