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.
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.
