FTSE 100 Price Forecast September 29, 2017, Technical Analysis

The FTSE 100 initially fell during the day on Thursday, but continues to find support below the 7300 level, it looks likely that we will continue to see buyers jump into this market. That’s not to say that it won’t be noisy, but certainly looks well supported. I think that the market should continue to find these pullbacks as value that we can take advantage of. Ultimately, the market should then go to the 7400 level above, and perhaps the 7500 level beyond that. I think that the market is in a nice and gentle uptrend in general, and if you look at the hourly chart you can see that we are not trending channel. I believe that the 7200-level underneath should be supportive, and that the 7500 level should be a longer-term target of the people were attracted to. If we can break above there, the market should continue to go even higher. I like the FTSE 100 in general, and therefore it’s likely that we will see opportunities return again and again.

The markets continue to be noisy, but in the end, I think that if you do simple analysis, you can see that buying and holding seems to be the best way to trade this market. The market continues to offer plenty of volatility but at the end of the day it looks as if we are going to continue to see upward pressure but in a noisy manner. That’s okay though, if you use small positions you can take advantage of what has been a reasonably reliable market. If we were to break down below the 7200 level, the market would be very negative, and I think probably look for the 7100-level underneath. Remember, smaller position size trades to build a larger position is the best way to go.

FTSE 100 Video 29.9.17