Annual Forecast on FTSE 100 (2017)

FTSE 100 stock (FTSE:UKX) is currently in a correction, following the sharp upward movement that was witnessed in the months of December 2106, and early January 2017.

Price is currently above the EMA 21, and the Williams’ % Range period 20 is in the overbought region. The recent pullback in the context of an uptrend is a good opportunity to go long now, since the position of the Williams’ % Range shows that the bullish movement is already in place.

This year, bulls could push FTSE 100 price towards the supply zones at 8000.00, 9000.00 and 10000.00.

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

Super Trading Strategies:  http://www.advfnbooks.com/books/supertradingstrategies/index.html 

  

Source: http://uk.advfn.com/newspaper/authors/azeez-mustapha

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