FTSE 100 forecast for the week of February 26, 2018, Technical Analysis

I believe that the FTSE 100 falling during the weekend then turning around to form a hammer is a very good sign. If we can break above the top of the weekly hammer, then the market should continue to work towards the 7500 level. Ultimately, I believe that the market should continue to go higher, perhaps breaking above the 7500 level will send this market towards the 7800-level next. Currently, I believe that the 7000 level should be the “floor” in the market, keep in the market to the upside.

In general, I believe that this market continues to be a “buy the dips” scenario, assuming that we can break above the 7000 handle. I think that the market eventually will go looking towards the 8000 level, my longer-term target. I believe that the market will eventually find plenty of reason to rally, but there are going to be the occasional hiccup like we have seen recently, and those should be looked at as buying opportunities in what I believe is going to be a very strong market. The FTSE 100 has been study, and that of course is something that longer-term investors tend to like.

If the market breaks down below the 7000 level, that could send this market much lower, perhaps reaching towards the 6700-level next. Ultimately, I think that is very unlikely to happen, so I continue to look for opportunities to take advantage of.

FTSE 100 Video 26.02.18