Tim Young, FTSE 100 trader, joined us on the Tip TV Finance Show to offer a technical outlook on the UK market equity index, joined by Zak Mir, Technical Analyst at Zak’s Traders Cafe.
Key Quotes
“FTSE Monthly chart – looks so positive.. post-Brexit candle is strong. Indicators look strong. Overall appears on track to post record highs, we already have US stocks at record highs and this could bode well for the FTSE 100.”
“Markets don’t worry about geopolitical turmoil as they tend to expect central bank easing if situation gets worse. Every time there is pull back (for example Brexit drop) we have gone up with central banks on markets’ side.”
“Probably could break on the downside from the sideways pattern, but with wall street at record highs, it is risky to go short.”