FTSE 100 Price Forecast February 26, 2018, Technical Analysis

The FTSE 100 rallied during the trading session on Friday, pulled back a bit, then rallied again. We are hanging about the 7250 level, which is very bullish for my point of view, and I believe it’s only a matter of time before we break out to the upside. I would anticipate that the market should continue to see buyers jumping in, because the FTSE 100 is offering value currently. Remember, this is been one of the more prolific and stable of trends that we have been following over the last year, so it makes sense that every time you pull back, there are people looking to get involved.

I believe that the 7000-level underneath is the “floor” in the market, and if we can stay above there, we are still very much in an uptrend. I have a longer-term target of 8000, and I believe that eventually we will reach it. That is my goal for the end of the year, and ultimately, we should see every time the market pulls back, value hunters come out to take advantage of it. I believe that the FTSE 100 will be more of a gentle grind to the upside than anything else, so this is more of an investor’s type of situation, not necessarily “hot money.”

If we were to break down below the 7000 handle, that would be very negative, perhaps sending the market to the 6800 level rather quickly. However, I recognize that we are much more likely to rally than fall.

FTSE 100 Video 26.02.18