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.
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.
