FTSE100 - Very bullish on monthly chart, eyeing record highs

TVC:UKX   FTSE 100 Index
FTSE100 monthly chart looks super bullish and says the index may very well on track to post record highs. A move to record highs doesn't look impossible, given the Bank of England (BOE) is seen cutting rates next week and a significant majority also believes it would restart QE program.

On monthly chart, every dip below 6000 was met with fresh buying interest finally resulting in a solid upside move post Brexit.

The index is now flirting with a rising trend line resistance. Today's closing (monthly closing) above 2007 high of 6754.1 would have been a extremely bullish sign. Nevertheless, a closing above rising trend line could be enough to send the index higher.

Check out what Tim Young, a successful day trader at Ayondo had to say about FTSE 100             on our show this week - https://www.youtube.com/watch?v=86tfHEJdHwo
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