FTSE 100 Price Forecast February 15, 2018, Technical Analysis

Shutterstock photo

The FTSE 100 went sideways overall during the day on Wednesday, with a slightly upward tilt. The 2550 level above will be resistive, but if we can break above that level, the market should continue to go higher, perhaps reaching towards the 7500 level. That's an area that will cause a lot of resistance, but if we can break above the 7500 level, the market should continue to go even higher. The I think that at this point, it's likely that short-term pullback should be buying opportunities that people will be willing to take advantage of.

The 7000-handle underneath is a bit of a "floor" in the market, and I think it will be massive support if we were to come close to it. Ultimately, I think that short-term pullbacks will be buying opportunities, but eventually the FTSE 100 continues to rally right along with the rest of the stock markets that we follow. Obviously, it will take a certain amount of momentum to finally break above the 7250 handle, but I think we will get that eventually. Clearing the 7300 level brings in more buyers as well, and at this point in time I think that a lot of people are looking for an opportunity to take advantage of value, something that we have seen. If we were to break down below the 7000 handle, the market will continue to go much lower.

FTSE 100 Video 15.02.18

This article was originally posted on FX Empire


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , World Markets

More from FX Empire


FX Empire

FX Empire

Research Brokers before you trade

Want to trade FX?