FTSE initially fell during the course of the day on Thursday, but found enough support at the 6325 level to turn things back around and break above the
FTSE initially fell during the course of the day on Thursday, but found enough support at the 6325 level to turn things back around and break above the 6400 level. The result of the action during the session on Thursday ended up forming a nice-looking hammer. The hammer of course suggests the buyers are coming back into the marketplace, and a break above the top of the hammer would of course be a nice opportunities are going long in a market that is obviously finding its footing. With the British GDP numbers coming out today that could be the catalyst to go much higher.
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.
