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.
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.
