FTSE 100 Price Forecast March 12, 2018, Technical Analysis

The FTSE 100 went sideways initially during the trading session on Friday, but then saw a bit of bullish pressure, as the jobs number in America came out at 313,000 for the month of February. Ultimately, this is a market that I think continues to see bullish pressure, but there’s obviously a significant amount of noise in the range of 7250. I think that the FTSE 100 pulling back will offer buying opportunities, but I also believe that it is only a matter of time before we do breakout. I believe that the market pulling back is simply a momentum building exercise, and I still see the 7000 level as a “floor” in the market, and if we were to break down below there it’s likely that the market unwinds rather drastically. I do believe in the bullish pressure and the bullish story longer-term, with the FTSE 100 perhaps going to the 7500 level.

In the meantime, I would be very cautious about trading this market, at least with large positions. I believe that there a lot of noisy issues out there that will continue to push this market back and forth, so I would be cautious about putting a lot of money in the market initially. If the market can continue to go higher, then I think you could add slowly to a position that proves itself to be working out for you. Ultimately, I think that we will get the break out, but I think it’s very difficult to hang onto what I thinks going to be very noisy scenario.

FTSE 100 Video 12.03.18