FTSE 100 stock index continue to move as part of the correction. At the time of the publication of the forecast, the index is trading at 7038. 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 7415 level.
FTSE 100 Forecast and Analysis March 1, 2019
In favor of the growth of quotations of the stock index will test the support line on the indicator relative index (RSI) to the force. 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 the breakdown of the 6880 area. This will indicate a 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 March 1, 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 7415 level. The test of the support line on the relative strength index (RSI) will be in favor of the FTSE 100 quotes rise. The decline will be canceled by the fall and the breakdown of the 6880 area. This will indicate a continuation of the fall with the target below the 6650.