The FTSE pulled back during the session on Wednesday, as we continue to consolidate in this particular area. We believe that the 6100 level above is
The FTSE pulled back during the session on Wednesday, as we continue to consolidate in this particular area. We believe that the 6100 level above is resistance, but the 5900 level below is supportive. As we grind away in this area, we are simply waiting to see this market break above the 6100 level in order to start buying. If we get that move, we feel that this market will probably then reach towards the 6500 level given enough time. We have no interest whatsoever in selling this market as it has seen so much in the way of support.
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.
