Put the FTSE100 on the radar

31 באוג׳ 2021

The FTSE is looking primed for a potential breakout. We have a flat sided ascending triangle which tends to resolve to the upside. The 7200 resistance will be tough to overcome as it was strong former support back throughout 2019. Recently price has been rangebound between 7k and 7.2k, seeking a new catalyst for a sustained move. The RSI has plenty of room to run before overbought fears could become an issue. Targets wise on the upside, a break through 7200 could bring 7500 into play. While on the downside, 7k would be first on the list with further moves lower potentially opening up 6.8k.