The FTSE initially rallied during the course of the session on Tuesday, but turned back around just below the 6350 handle to form a bit of a shooting
The FTSE initially rallied during the course of the session on Tuesday, but turned back around just below the 6350 handle to form a bit of a shooting star. The shooting star of course is a negative sign, and it is sitting on the 6250 handle at the moment, which has been resistance and support in the past. This looks a lot like a market that once to try to break down below that level. However, we would more than likely see a bounce by the end of the day once that happens, so we are waiting to see if we get a supportive candle in this area to start buying.
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.
