FTSE 100 Price Forecast August 17, 2017, Technical Analysis

The FTSE 100 broke higher during the trading session on Wednesday, clearing the 7400 level. The market now looks as if it is going to continue to go higher, perhaps trying to fill the gap from several sessions ago. That means that we should go looking towards the 7500 level, and that will be exacerbated and turbocharged if the British pound starts to fall as well. Currently, the British pound looks as if it is going to struggle, and that helps exports coming out of the United Kingdom. I don’t know if we can break above the 7500 level above, so I think that it’s only a matter of time before we see a little bit of pushback. If we can break above the 7500 level, the market should continue to go higher, with the first target be in the 7550 handle. Alternately, a break below the 7400 level should send this market looking towards the 7300 level.

FTSE 100 Video 17.8.17