FTSE 100 rallies slightly during the day on Monday

The FTSE 100 has rallied a bit during the trading session on Monday, reaching towards the 7760 handle, pulling back to the 7720 handle, and then rally again. I think that the 7700 level continues to be important overall, and I think that it looks as if it will probably be a bit of an opportunity for traders to take advantage of a “road sign” in the market that allows you to set stop loss is. I think that if we can break to the upside, the market will probably go to the 7900 level. There is plenty of support underneath, and I believe that longer-term it’s more functional to buy this market than solid. I think that a lot of people are a bit concerned about various headlines around the world, but at the end of the day we are probably going to avoid some type of major meltdown in Italy, which is one of the things that stock traders around the world are concerned about. Beyond that, look at the geopolitical concerns with trade wars to have an influence as well.

However, this is a market that structurally looks as if it is trying to break the recent pullback, and therefore I think that you should focus on what matters the most: price. When looked at through the prism of the last several months, this recent pullback has not been much to be concerned about. In fact, is very likely that we go to the 8000 handle if you are patient enough.

FTSE 100 Video 05.06.18