FTSE 100 Trades Sideways Ahead of Today’s ECB Meeting
Posted: Wed Mar 09, 2016 7:57 am
Price is trading sideways between the February 29 low of 6034 and last week’s high of 6221 and a break to this range is probably needed for momentum to pick up.
On a break to the upper barrier of 6221, the FTSE 100 may reach the next resistance level inline, which is the December 29 high of 6322. On its way up to this high, the FTSE will meet its 200-day-average now at 6285. A break to the moving average and the December 29 high of 6322 may bring the longer-term bearish trend into question.
The alternative scenario is for ... (read more)