FTSE 100 Price forecast for the week of March 26, 2018, Technical Analysis

The FTSE 100 fell significantly during the week, slicing through the 7000 handle rather easily. On Friday though, we did start to see buyers come back, as the 6900 level offered a bit of support. Traders are getting spooked by the potential trade war between the United States and China, so it makes sense that we would see a bit of negativity in the stock markets around the world. Ultimately, I look at this market as one that will continue to be very difficult, because we do have higher interest rates coming in the United Kingdom, and of course we do have the fears of China and the US being entangled in something that will more than likely drag the rest of the world down with it. However, if we get some type of good news out of that situation, that might be reason enough to turn this market around. I think the rest of the stock markets that we follow here at FX Empire could have a positive influence as well, so the next couple of days could be very crucial, making this week’s candle something that you should be paying attention to.

FTSE 100 Video 26.03.18

If we do break to the upside, I would anticipate a move to the 7250 level. Otherwise, we will more than likely break down the 6600, probably in reaction to some type of negativity coming out of the mouths of either Chinese or American leaders, or perhaps an escalation of tariffs between the 2 countries.

This article was originally posted on FX Empire

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