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FTSE 100 Price Forecast March 7, 2018, Technical Analysis

The FTSE 100 has rallied a bit during the trading session on Tuesday, reaching towards the 7175 handle. The market looks likely to reach towards 7250 given enough time, although I recognize that there is a lot of noise between here and there. Beyond that, even if we do pull back I think that there is plenty of support to be found near the 7125 region, extending down to the 7080 handle. The 7000 level below is the "floor" in the market, so I think that it's only a matter of time that if we reached towards that level we should have plenty of buyers jumping in to take advantage of this market.

Ultimately, I think this market will continue to be very noisy, but for those who can handle the volatility you should be able to take advantage of what I think is a bit of a basing pattern. Ultimately, the 7500 level above is my target, but I think that will take a lot of work to get to. Ultimately, I think that the market will offer plenty of value opportunities, but I think you should jump in slowly. If we were to turn around and break down below the 7000 handle, that would be a very negative sign, perhaps sending the market in more of a strong downtrend that would bring in a lot of short-sellers.

FTSE 100 Video 07.03.18

This article was originally posted on FX Empire

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


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

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