The FTSE fell on Tuesday, reaching below the 6250 level at one point. We believe that this market has quite a bit of support near the 6200 level though,
The FTSE fell on Tuesday, reaching below the 6250 level at one point. We believe that this market has quite a bit of support near the 6200 level though, so now we start to look for buying opportunities. If we get a supportive candle on a short-term chart, we may be willing to place a short-term long. A daily candle that looks supportive should also be thought of as a little bit of a longer-term buying opportunity, as we believe this market will reach back towards the 6500 level given enough time. At this moment, we have no interest in selling.
FTSE Forecast November 25, 2015, Technical Analysis
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.
