FTSE 100 Price Forecast August 15, 2017, Technical Analysis

The FTSE 100 gapped higher at the open on Monday, as the 7300 level has offered support. Now that we’ve done this, it looks as if the market is going to go looking towards the 7400 level above. Above there, we have a gap that sits just below the 7500 level and that is my target. A continues to be a bullish looking market overall, as gaps tend to get filled. Stock markets around the world rallied on Monday, as although a lot of the geopolitical concerns have been put the rest as the North Korean situation has settled down. I believe that has been a lot of the selling, least the reason for it. Because of this, I think that we will see a return to a bit of resiliency.

If we did break below the 7300 level, then I think that the market goes much lower. This is not only because of a large, round, psychologically significant number, but also the gap being broken. I don’t think that’s necessarily were going next though, and I’m willing to step in but I also recognize that small position sizes will probably be the best way to go in a market that will probably be volatile not only because of anything coming out of North Korea, but also the talks between the United Kingdom and the European Union.

FTSE 100 Video 15.8.17