FTSE 100 Price Forecast January 5, 2018, Technical Analysis

The FTSE 100 fell initially during the Thursday trading session, but then bounced enough to rally again. It looks as if the 7700 level is offering a bit of resistance, but I think we are getting ready to go higher, and a move above there should send the market much higher, to at least the 7750 level, if not the 7800 level. I believe that buying pullbacks will probably continue to be the best way to trade this market, and I also think that the 7600-level underneath as the “floor” in the uptrend. I like the idea of picking up value as we move along, and I think that the market will continue to reward those who are patient enough to collect their profits.

If we were to break down below the 7600 level, the market probably goes down to the 7500-level underneath, which to me being broken down below there would be a horrific sign for this market, perhaps sending it into a downtrend. The FTSE 100 has been very strong for some time, so I think continued buying pressure should continue. Later this year, we may get a bit of a massive correction in the stock markets around the world, but I think that the next couple of months should continue to be very positive overall, and looking at dips as value is probably going to be the best way to trade the London exchange. Longer-term, I suspect that the market is going to go looking towards the 80,000 handle above.

FTSE 100 Video 05.01.18