Tim Young, Social Trader for Ayondo, gives the technical outlook for the FTSE 100, maintaining a bullish outlook on the index for the near-term.
FTSE 100 – Momentum favouring the upside
Young takes a look at the daily, weekly and 4hourly charts for the FTSE 100 index. He explains how momentum indicators like MACD lead the price action. He further sees positive divergence on the daily charts and expects the Footsie to continue higher for today and the coming Monday.
Young also warns of overbought levels being seen in the 4H charts, but the weekly charts confirms his bullish view on the index.