FTSE 100 Price Forecast January 8, 2018, Technical Analysis

The FTSE 100 continues to follow the 24-hour exponential moving average, showing signs of strength yet again. The market breaking above the ascending triangle shows that we are ready to go to the upside, but I also recognize that the move may be a bit choppy as the FTSE 100 has to deal with the headlines coming out of the negotiations between London and Brussels. I think that the market will probably offer plenty of value based on pullbacks that headlines will produce, as the trend is most certainly to the upside and a long way from turning around. I look at the 7800 level as the next target, but not a major one. It is simply a bump along the way to the 80,000 handle which is my longer-term target.

If we were to break down below the 7600 level, that would probably send this market down to the 7500 level. That’s an area that is massive support, so if we were to break down below there, the uptrend is completely over with, and we would go much lower now. I think that the volatility continues to be a major issue, but overall to add slowly to a winning core position, it would be the best way to play what I see as a longer-term move just waiting to happen. The FTSE 100 I believe will be one of the better opportunities going into this year.

FTSE 100 Video 08.01.18