Yahoo Finance FTSE 100 Price Forecast December 14, 2017, Technical Analysis
The FTSE 100 was sideways during trading on Wednesday, as we awaited the Federal Reserve announcement, but quite frankly we are in a bullish run to the upside, and we needed to take a moment to build up momentum to continue to the upside. The 7600 level above is the top of the overall consolidated very area, which has been strong for some time. I believe that buying the dips continues to be the best way to play this market, with massive support at 7400 below, and perhaps even support at 7450 that could offer buying opportunities. In general, this is a market that I think continues to find buyers.
Volatility will of course be an issue occasionally, but it is more than likely going to be due to headlines coming out of the negotiations between the United Kingdom and the European Union, as well as movement going forward. I think that the overall trajectory of the market is to go higher, and a break above the 7600 level could send this market as high as 8000 of the longer term. I believe that the story for 2018 though, and in the meantime people will be looking to pick up value as it presents itself. If we were to break down below the 7400 level, it’s very likely that we would return to the 7300 level, although I think that is about a 10% chance given the massive buying pressure that we have seen over the last week all things being equal, I’m a buyer.
FTSE 100 Video 14.12.17
This article was originally posted on FX Empire
