The FTSE 100 stock index is trading at 7405. The index is trading above the upper limit of the Ichimoku Kinko Hyo Cloud. This indicates the presence of an upward trend in the FTSE 100. The scope of the forecast index rate. A test of the upper boundary of the Ichimoku Kinko Hyo Cloud is expected near the level of 7405. Where should we expect an attempt to rebound and continue the development of the upward movement in order to grow near the level of 7650.
FTSE 100 Forecast and Analysis April 18, 2019
An additional signal in favor of the growth of the index will be the test of the upper limit of the ascending channel. The second signal will be the support level test. Previously, a strong signal was received for BUY the FTSE 100 stock index. The signal was obtained by crossing the signal lines at 7385.
Cancellation of the growth of quotations of the stock index will be the breakdown of the lower border of the Ichimoku Kinko Hyo Cloud with the closing of quotations below the 7235 area. This will indicate a change in the bull trend in favor of a downward trend and continued decline. Expect to accelerate the growth of quotations of the stock index FTSE 100 stands with the breakdown of the resistance area and closing above the level of 7550.
FTSE 100 Forecast and Analysis April 18, 2019 suggests an attempt to develop a correction and test the support level near the 7405. Where should we expect the FTSE 100 uptrend to continue to rise with a potential target near the 7650 level. In this case, we should expect a continuation of the decline in quotations.