The stock index FTSE 100 completes the trading week near the level of 7307. The index is trading below the lower boundary of the Cloud Ichimoku Kinko Hyo, which indicates the presence of a bearish trend. As part of the FTSE 100 weekly forecast & analysis September 17 — 21, 2018, the Ichimoku Kinko Hyo signal line area test is expected near the 7400 level, from which it is expected to attempt a rebound and continue the development of the downward movement with a potential drop target near the level of 7000.
FTSE 100 weekly forecast & analysis September 17 — 21, 2018
An additional signal in favor of lowering the quotations of the index in the current trading week on September 17 — 21, 2018 will test the upper boundary of the bearish channel, as well as a test of the resistance area. Earlier, a medium strength signal was obtained for the sell of the FTSE 100 stock 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 bearish trend in favor of a bullish trend and the continuation of growth. Expect to accelerate the fall in quotations of the stock exchange index FTSE 100 stands with the breakdown of the lower boundary of the bearish channel and the closing below the level of 7150.
FTSE 100 weekly forecast & analysis September 17 — 21, 2018 suggests a test of the resistance level level near the 7400 area, from which it is expected to rebound and continue falling quotations of the index with a potential target near the level of 7000, 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.
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