FTSE 100 Price Forecast March 13, 2018, Technical Analysis

The FTSE 100 as you can see rallied significantly over the last several sessions, but the 7250 level above is massive resistance. If we can break above there, then I think the longer-term uptrend continues itself and we go towards the 7350 level. Ultimately, I think that the market could be very noisy, but it’s obvious that there are a lot of buyers underneath. As long as we have a “risk on” attitude in the markets, it’s likely that the FTSE 100 will enjoy a lot of buying pressure. I believe that the longer-term target of 7500 will be targeted sometime late spring, but until then it’s probably a “buy the dips” situation.

FTSE 100 Video 13.03.18

At this point, I look at the 7000 level as the “floor” in the marketplace, and it’s not until we break down below there that I would be concerned about the overall uptrend. The market should continue to offer us opportunities to take advantage of these dips, and I think that longer-term we will more than likely target 8000, but that’s a target that I have for the end of the year. If we did breakdown below the 7000 handle, I think the market would probably drop to the 6500 level rather quickly, perhaps even lower than that. I think that the markets will continue to be noisy, but that offers plenty of opportunities in this type of situation. I continue to add slowly every time we pull back.

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