FTSE 100 Price Forecast March 21, 2018, Technical Analysis

The FTSE 100 went back and forth during trading on Tuesday, as the markets were relatively quiet. We are waiting to see how things play out with the negotiations between the European Union and the United Kingdom, as there is talk of a basic structure being agreed to. Ultimately, this is a market that I think should find plenty of support underneath that the 7000 handle, and if we can stay above there it’s likely that we will continue to find buyers. The 7250 level above is massive resistance, and essentially the “ceiling” in the market currently. I think that there is much more risk to the upside than down, but I recognize that if we break down below the 7000 handle, it would send this market much lower, perhaps down to the 6800-level next.

FTSE 100 Video 21.03.18

Expect a lot of noise due to currency movements, as the British pound has gone back and forth. I think given enough time, we will get clarity over there as well, and that should help the FTSE with a more stable move as well. Ultimately, I think that if we can break above the 7250 handle, the market should then go to the 7350-level next. Longer-term, I think we will go looking towards the 7500 level, but it’s obviously going to take a long time. If we break down below the 7000 handle, I think the move down to 6800 would be rather quick. Currency markets will continue to move this market and the short-term, as we have a major announcement coming out of the Federal Reserve today.