FTSE 100 stock index continue to move within the fall and the downward channel. At the time of publication of the forecast, the index is trading at 7103. At the moment, we should expect an attempt to grow and test the resistance level near the area of 7155. Where should we expect a rebound and the continuation of the fall in FTSE 100 quotes to the area below the level of 6990.
FTSE 100 Forecast and Analysis March 27, 2019
In favor of the fall of the stock index quotes, a test of the resistance line on the indicator of relative strength index (RSI) will be made. The second signal will be a rebound from the upper boundary of the downward channel. Cancellation of the drop in the index quotes will be a strong growth and the breakdown of the 7185 area. This will indicate a breakdown of the downstream channel and continued growth of the FTSE 100 with a target above the level of 7300. Wait for the confirmation of the fall in the stock index quotes with the breakdown of the support area and closing below the 7050 area.
FTSE 100 Forecast and Analysis March 27, 2019 implies an attempt to test the upper limit of the downward channel near the 7155. Then continue falling to the area below the level of 6990. In favor of reducing the FTSE 100 quotes, the resistance line test on the relative strength index (RSI) will come out. Cancellation of the fall option will be a strong growth and the breakdown of the 7185 area. This will indicate a continuation of the rise with a target above the 7300 area.