The FTSE initially fell during the day on Wednesday, but found support near the 6225 level. By doing so, we ended up bouncing enough to form a hammer and
The FTSE initially fell during the day on Wednesday, but found support near the 6225 level. By doing so, we ended up bouncing enough to form a hammer and that of course is a very bullish sign. I think if we can get above the 6300 level, the FTSE continues to go higher, reaching the 6450 level given enough time. During the session today, we do have Retail Sales numbers coming out of London, so that could be the catalyst go higher. I have notched in selling, I believe there is far too much in the way of supportive pressure underneath to make that a viable option.
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.
