FTSE 100 stock index continues to move as part of the correction and the formation of the «Triangle» model. At the time of the publication of the forecast, the index is trading at 7118. At the moment, we should expect an attempt to fall and a test of the support level near the area of 7025. Where should we expect a rebound and the continued rise of FTSE 100 quotes to the area above the level of 7510.
FTSE 100 Forecast and Analysis March 6, 2019
In favor of the growth of quotations of the stock index will test the support line on the relative strength index (RSI). 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 6850 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 6, 2019 suggests an attempt to test the lower boundary of the channel near the 7025 area. Then, the growth will continue to the area above the 7510 level. The test of the support line on the relative strength index (RSI) will be in favor of the FTSE 100 quotes rise. Cancellation of the growth option will be a fall and a breakdown of the 6850 area. This will indicate a continuation of the fall with a goal below the 6650 area.