June 23, 2014
FTSE 100 recently reversed up from the 38.2% Fibonacci Correction level of the preceding sharp daily upward impulse from the middle of April. The support zone near this correction level was strengthened by the lower support trendline of the latest down channel from May and the lower daily Bollinger Band (as you can see from the daily FTSE 100 chart below).
FTSE 100 is expected to rise to the earlier high at the resistance level 6900.00. The index will need to break the resistance trendline of the afore mentioned down channel from May to reach this target.
The post HY MARKETS News: Index Report: FTSE 100 appeared first on | HY Markets Official blog.
