FTSE 100 Price Forecast September 26, 2017, Technical Analysis

The FTSE 100 went sideways during the session on Wednesday, as we continue to hang about the 7300 level. If we can break above the 7320 handle, the market should continue to go higher, perhaps heading towards the 7400 level. I think if we break down below the bottom of the range during the day, we could go looking towards the 7200 level. Either way, I think that you’re going to see a lot of volatility in this market but I think also that there is plenty of reason to be able to trade the market back and forth for those who are scalpers. I think that ultimately, the market goes higher, but this is a market that should offer quite a bit of opportunity for both sides of the trade.

After all, this is a market that should continue to see noise, mainly because of the upcoming divorce from the European Union, and that of course can cause quite a bit of noise. Headlines continue to dominate the moves in this market place, as we continue to see trouble present itself in the form of indecision. The Bank of England looks likely to raise interest rates, so that of course works against the value of the stock market, but at the same time it also suggests that perhaps the United Kingdom enjoys a stronger economy than we thought. Because of this, I think that there is a proclivity to go higher over the longer term, but it is going to be so noisy that I think you will have the ability to trade in both directions occasionally. It really comes down to your risk tolerance, but longer-term traders may be more comfortable just simply holding on to a bullish position now that we have cleared the gap from last week.

FTSE 100 Video 26.9.17