FTSE 100 slightly positive in volatile Friday session

The FTSE 100 rallied a bit during the trading session on Friday, reaching towards the 7750 level, pulling back to reach towards the 7700 level underneath. I think that the market is continuing to try to build up bullish pressure, and I also see a hammer on the weekly chart which of course suggests that we are finding buyers underneath to push this market. The shooting star from the previous week also tells us that there is a significant amount of resistance, so I think what we are looking at is a market that is going to be somewhat range bound. With that in mind, I like the idea of buying the dips and of course by breakouts as the longer-term uptrend is very much intact, and perhaps we are simply consolidating to build up enough momentum to continue to go higher.

I think that the market participants will continue to be very noisy and of course I think the market will offer plenty of opportunities. I think dips offer value the people are willing to take advantage of, especially if the geopolitical concerns start to wane a bit. I think that the market should continue to go much higher, but only after we get past something such as potential trade wars and conflicts. As we start to calm down a bit, I think that the market should continue to go much higher and if you are patient enough you should be able to take advantage that. However, if we were to break down below the 7600 level, the market could unwind to the 7500 level after that.

FTSE 100 Video 04.06.18