Yahoo Finance FTSE 100 rallies significantly during the Wednesday session
The FTSE 100 rallied significantly during the trading session on Wednesday, breaking above the 7250 level, showing signs of life going forward. I think that pullbacks should be a buying opportunity, and I believe that the 7250 level should show signs of support. I believe that the market will continue to be very noisy, but I think that eventually we should go to the 7500 level. I believe that there is a massive “floor” near the 7200 level, and that the 7000-level underneath is the bottom of the uptrend going forward. I think that if we can stay above that level, I think that the market should continue to go much higher, but I also recognize that we may have an occasional pull back.
However, if we were to break down below the 7000 level, that could send the market much lower, and unwind the overall uptrend. I think that it’s very unlikely to happen, especially considering that we have made yet another high, which shows signs of increasing bullish pressure. If we can stay out of some type of trade war, I think stock markets around the world will continue to show signs of strength, and that of course will continue to be the same for the FTSE 100, as it won’t be any different. I think that the market will continue to be very noisy, but most certainly I look at pullbacks as an opportunity to pick up a bit of value. I have no interest in shorting.
FTSE 100 Video 19.04.18
This article was originally posted on FX Empire
