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 - www.youtube.com/watch?v=86tfHEJd...
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 - www.youtube.com/watch?v=86tfHEJd...
