FTSE 100 Index Price Forecast February 5, 2018, Technical Analysis

The FTSE 100 has fallen yet again on Friday, as we continue to be selling around the stock markets. There are a lot of concerns coming out of the bond markets, and I suspect that we are going to continue to see a bit of noise, but we are getting close to an uptrend line on the longer-term chart. If we can reach down towards the 7350 level, it’s likely that the uptrend line could bring in buyers. Alternately, if the market finds buyers in that area, I believe that it will be a nice buying opportunity for those looking for value. However, it has been a bit difficult to deal with the selling, so I would anticipate that it is probably best to sit on the sidelines and wait for a day or 2 of stability before putting any significant amount of money to work.

If we do break above the 7500 level, that could be a sign to start buying as well. However, would also need to see a significant amount of volume, and more importantly: a daily close above that level. Because of this, I will keep you up-to-date as to what I am doing here at FX Empire, but right now I think the FTSE 100 is more likely to find more of a drift lower than anything else. This is a short-term move though, and I think that given enough time, we should have plenty of value to be found, and we could see that in the next few sessions. However, it’s probably best to be patient in the meantime.

FTSE 100 Video 05.02.18