The stock index FTSE 100 completes the trading week near the level of 7466. The index is trading below the lower boundary of the Cloud Ichimoku Kinko Hyo, indicating a downward trend. As part of the FTSE 100 weekly forecast & analysis October 1 — 5, 2018 8, the Ichimoku Kinko Hyo Cloud lower limit test is expected near the level of 7550, from which it is expected to attempt a rebound and continue the development of a downward movement with a potential drop target near the 7100 level.
FTSE 100 weekly forecast & analysis October 1 — 5, 2018
An additional signal in favor of lowering the quotations of the index in the current trading week on October 1 — 5, 2018 will be a test of the upper boundary of the descending channel, as well as a test of the resistance area. Earlier, a medium strength signal was obtained for the sell of the FTSE 100 exchange index, due to the crossing of the signal lines at the level of 7585.
Canceling the option of lowering the quotations of the stock index will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud with the closing of quotes above the area of 7620, which will indicate a change in the downward trend in favor of an upward trend and the continuation of growth. Expect to accelerate the fall in quotations of the exchange index FTSE 100 is with the breakdown of the support area and the closure below the level of 7350.
FTSE 100 weekly forecast & analysis October 1 — 5, 2018 suggests a test of the level of the resistance level near the area of 7550, from which it is expected to rebound and continue falling quotations of the index with a potential target near the level of 7100, the cancellation of the decline of quotations will cause a strong growth and breakdown of the region 7620, which will indicate the continued growth of the FTSE 100 rate.
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