The FTSE initially rose during the course of the week, testing the 6450 level. The resulting candle was a shooting star of course, so it suggests that
The FTSE initially rose during the course of the week, testing the 6450 level. The resulting candle was a shooting star of course, so it suggests that perhaps the FTSE is running out of steam at the moment. The 6300 level below is supportive, but we need to get below there before we could see this market break down. In the meantime though, if we can break above the 6500 level we are very bullish. Regardless, the FTSE will probably be more or less a short-term traders market as it is so noisy.
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.
