FTSE 100 Rallies to Touch 50 Day EMA - ftse100 stockmarkets stocktrading
The rally breaking above the 200 Day EMA is an interesting move because it does suggest that we are going to try to go higher, but there is such a huge cluster just above, and of course, we have a lot of noise that will stand in the way of the market going higher.
The global scenario right now is not one that screams growth, so it’s difficult to get bullish on any stock market at this point. I believe that the situation around the world will continue to make people very hesitant to buy stocks. On the downside, if we break down below the 7100 level, it is likely that we will continue to go much lower, perhaps reaching towards the 6800 level.
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