Saturday, September 8, 2012

FTSE 100 forecast for coming week ended 14th September, 2012.

FTSE was trying to stay above 5750 level in the last day, now if it able to maintain that in coming week then we may see FTSE crossing 5800 level. But that may not be in early days of the coming week; as such it may deliver flat movements in those days.

On the other hand if it drops from 5750 level then it will be looking for support around 5650 levels and next one is at around 5600 level. I will think about a bearish pattern if FTSE fails to break 5850 level in the upside, though that is in early stage but if it triggers then FTSE may go below 5500.

FTSE is making a long-term bearish pattern which it can trigger below 5000 level but this type of pattern is difficult to trigger. On the other hand higher lows which it made in last 1 year, says that FTSE will be testing upside in coming future.


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