FTSE 100 stock index continue to move in the framework of growth and the ascending channel. At the time of the publication of the forecast, the index is trading at 7390. At the moment, we should expect an attempt to decrease and test the support level near the 7245 area. Where should we expect a rebound and continued growth of the FTSE 100 quotations in the area above the level of 7650.
FTSE 100 Forecast and Analysis April 10, 2019
A test of the resistance line on the relative strength index (RSI) will be in favor of raising the stock index quotes. The second signal will be a rebound from the lower boundary of the rising channel. Cancellation of the growth rate of the index quotes will fall and the breakdown of the 7085 area. This will indicate a breakdown of the upward channel boundary and the continued decline of the FTSE 100 with a target below the level of 6750. Wait for the confirmation of the growth of the stock index quotes with the breakdown of the resistance area and closing above the 7470 area.
FTSE 100 Forecast and Analysis April 10, 2019 implies an attempt to test the lower boundary of the ascending channel near the area of 7245. Then, the growth will continue to the area above the level of 7650. The test of the support line on the relative strength index (RSI) will be in favor of raising the FTSE 100 quotes. Cancellation of the growth option will be the fall and the breakdown of the area of 7085. This will indicate a continuation of the decline with the goal below the area of 6750.