The FTSE initially tried to rally during the course of the week, but found the 6600 level be far too resistive and therefore fell all the way through the
The FTSE initially tried to rally during the course of the week, but found the 6600 level be far too resistive and therefore fell all the way through the 6400 level. With that being the case, it appears that this market is ready continue to go much lower, as the FTSE and at most European indices in general look broken at this point. We believe that the move coming up should head to the 6000 level, and we are most certainly bearish at this point in time. There is no plans on buying this index anytime soon.
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.
