The FTSE initially fell during the course of the day on Wednesday, but bounced enough to form a hammer and pressed up against the 6400 level. Because of
The FTSE initially fell during the course of the day on Wednesday, but bounced enough to form a hammer and pressed up against the 6400 level. Because of this, we feel that a break above 6400 is a signal to start buying, as the market would then head to the 6600 level given enough time. We believe that the FTSE is trying to form some type of base to go higher, so on that move we would be fairly confident. Regardless though, even if we pullback from here we believe that there will be buyers below, and supportive candles would have us going long.
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.
