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 7398. Moving averages indicate an uptrend. At the moment, we should expect an attempt to reduce and test the support level near the area of 7235. Where should we expect a rebound and continued growth of FTSE 100 quotes to the area above the level of 7680.
FTSE 100 Forecast and Analysis April 26, 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 of quotations of the index will fall and a breakdown of the 7095 area. This will indicate a breakdown of the ascending channel boundary and the continued decline of the FTSE 100 with a target below 6825. Expect confirmation of the growth of the stock index quotes with the breakdown of the resistance area and closing above the 7520 area.
FTSE 100 Forecast and Analysis April 26, 2019 implies an attempt to test the lower boundary of the ascending channel near the 7235 area. Then, the growth will continue to the area above the 7680 level. 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 a fall and a breakdown of the 7095 area. This will indicate a continuation of the decline with a target below the 6825 area.