The FTSE fell hard during the course of the day on Wednesday, but found a bit of support near the 6450 level. Because of this, the market looks like it
The FTSE fell hard during the course of the day on Wednesday, but found a bit of support near the 6450 level. Because of this, the market looks like it could bounce from here and therefore we are willing to buy supportive candles as they appear. We have no interest in shorting this market, at least not until we break down well below the 6440 handle, and quite frankly would probably even wait until we get below 6400 as well. We believe that a bounce is overdue, and therefore that is exactly what we are waiting to see.
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
