LOOK: FTSE 100 Share Index Price Forecast, Sept. 12 – A Quick Analysis
The FTSE 100 had a gap bigger during the start of trade as of Monday, and then moved toward the 7425 region prior to reverting.
It made a turn-around and pulled back to the 24-hr exponential moving average and formed a hammer as shown on the hourly chart.
The movement was the start of the markets emerging back to the bullish side. A good portion of such trajectory was perhaps the result of the markets heaving a sigh of relief regarding worries brought by North Korea.
With this in mind, market observers believe the development is more of a “risk on” trade waiting to occur.
Analysts likewise think that later on they will end up in the 7450 handle, and then ultimately, the 7500 mark above.
Some analysts are showing very little interest in shorting this type of market, and are of the opinion that they will go on to witness strong pressure with regards the longer term, especially if the British currency drops.