Saturday, January 20, 2018

Annual Forecast for FTSE 100 (2018)

FTSE 100 shares (FTSE:UKX) have been moving northwards strongly in the past two months. There is a Bullish Confirmation Pattern in the daily chart, and so, the pullback we are currently experiencing would be a temporary thing.

4 EMAs are used for this analysis and they are EMAs 10, 20, 50 and 200. The color that stands for each EMA is shown at the top left part of the chart.

All the EMAs are sloping upwards, and since the market is currently above the EMAs 20 and 50, the uptrend is strong indeed.

There has been a recent pullback towards the EMAs 10 and 20, which serve as a barrier to bearish machinations, and good entry points for long trades.

FTSE 100 is expected to maintain its bullishness for the most part of this year. Although that does not rule out possibilities of occasional pullbacks.

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

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