The FTSE as you can see fell hard during the course of the day on Friday, breaking below the 6400 level. The 6400 level was an area that we feel was
The FTSE as you can see fell hard during the course of the day on Friday, breaking below the 6400 level. The 6400 level was an area that we feel was significantly supportive, and the fact that we broke down below there is of course very negative. We look at rallies at this point in time as being a selling opportunity, perhaps heading as low as 6000 given enough time. We believe that the FTSE is now broken to the downside, and as a result we are most certainly bearish of this marketplace.
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.
