The FTSE fell initially during the course of the session but found enough support at the 6720 level to turn things back around to form a hammer. The
The FTSE fell initially during the course of the session but found enough support at the 6720 level to turn things back around to form a hammer. The hammer of course is a bullish sign, and if we can break above the top of that hammer, the market should then reach towards the 6800 level. With fact, we feel the market is trying to build up enough momentum to turn things back around, and as a result we are buyers if we can get the breakout to the upside. If we pullback from here, were also buyers as we feel that there should be a supportive candle somewhere between here and the 6640 region.
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.
