The FTSE had another strong showing on Monday, as we managed to break up of the 6180 level at the close. The market now looks slightly overextended, but
The FTSE had another strong showing on Monday, as we managed to break up of the 6180 level at the close. The market now looks slightly overextended, but there is obviously quite a bit of support below, especially once you get to the 6120 area. Because of this, we are very bullish of the FTSE and believe that pullbacks will be buying opportunities at this point. Buying up at this point in time is a little bit rich for our taste, but we are more than willing to buy pullbacks to show signs of support as long as we stay above the 6100 level.
FTSE Index Futures Forecast January 22, 2013, Technical Analysis
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.
