FTSE 100 stock index continue to move as part of the correction. At the time of publication of the Forecast, the index is trading at 7068. At this point, we should expect an attempt to fall and a test of the support level near the 6985 area. Where should we expect a rebound and the continued rise of the FTSE 100 quotes to the area above the 7525 level.
FTSE 100 Forecast and Analysis February 28, 2019
In favor of the growth of quotations of the stock index will test the support line on the indicator (RSI). Cancellation of the growth rate of the index quotes will fall and the breakdown of the 6890 area. This will indicate the breakdown of the lower boundary of the upward channel and the continuation of the fall of the FTSE 100 with a target below 6650. Wait for confirmation of the growth of the stock index quotes with the breakdown of the resistance area and closing above the 7200 area.
FTSE 100 Forecast and Analysis February 28, 2019 implies an attempt to test the lower boundary of the channel near the 6985 area. Then, the growth will continue to the area above the 7525 level. The support line on the relative strength index (RSI) will come up in favor of the FTSE 100 quotes. The decline will be canceled by the fall and the breakdown of the 6890 area. This will indicate a continuation of the fall with the target below the 6650.