The FTSE fell hard during the course of the week as most stock indices did, carving into the 6200 level. With this, we believe that sooner or later the
The FTSE fell hard during the course of the week as most stock indices did, carving into the 6200 level. With this, we believe that sooner or later the buyers step back in, but we certainly can’t sell at this point in time. We would need to see a bit of a bounce, and then take advantage of exhaustion. On the other hand, we get some type of supportive candle near the 6100 level, we would be buyers at that point in time as it is the bottom of the larger consolidation area that we’ve been stuck in.
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.
