Yahoo Finance FTSE 100 dress lower as we open on Monday
The FTSE 100 has broken down below the 7250 level, and then reached towards the 7200 level beyond that. I think there’s plenty of support down to the 7150 level, and at this point I’m waiting for some type of bounce or supportive candle that I can take advantage of. The 7000-level underneath that is the overall “bottom” of the market, and I think that the market will continue to go even higher. The 7500 level is my longer-term target, but it’s going to take a lot of work to get there. The FTSE 100 should continue to be significantly impacted by headlines around the world, and of course the overall risk appetite of traders.
Keep in mind, the Syrian situation, although not directly related to British stock markets, gives us an idea as to how traders around the world will be putting money to work. If they are a bit more comfortable, they start to buy things such as stocks in the FTSE 100. Trade war talks of course can give us the same kind of momentum in both directions, so keep that in mind as well. I believe that the strengthening British pound has weighed upon the FTSE 100 during the day, as we have broken above the vital 1.43 level against the greenback. This makes exports more expensive, but I think it’s only a matter of time before the buyers come back in and start picking up value on signs of a bounce.
FTSE 100 Video 16.04.18
This article was originally posted on FX Empire
