The FTSE fell a bit during the course of the session on Tuesday, but found the 6500 level be supportive enough to keep the market afloat. We believe that
The FTSE fell a bit during the course of the session on Tuesday, but found the 6500 level be supportive enough to keep the market afloat. We believe that this market is getting ready to bounce, and therefore break above the top of the range for the session on Tuesday is probably enough to get us to start buying. We definitely would be buyers on a break above the 6600 level, as it represents the next short-term resistance barrier. Ultimately, we like the fact that the 6500 level offered support, as it is a large, round, psychologically significant number.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
