FTSE 100 stock index continue to move in the framework of growth and the upward channel. At the time of the publication of the forecast, the index is trading at 7371. Moving averages indicate a bullish trend. At the moment, we should expect an attempt to reduce and test the support level near the area of 7245. Where should we expect a rebound and continued growth of FTSE 100 quotes to the area above the level of 7655.
FTSE 100 Forecast and Analysis April 30, 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 7125 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 30, 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 7655. In favor of raising the FTSE 100 quotes, the test of support line on the relative strength index (RSI) will come out. Cancellation of the growth option will be the fall and the breakdown of the area 7125. This will indicate a continuation of the decline with the goal below the area of 6825.