Annual Forecast on FTSE 100 (2017)

FTSE 100 stock (FTSE:UKX) is currently in a correction, following the sharp upward movement that was witnessed in the months of December 2106, and early January 2017.

Price is currently above the EMA 21, and the Williams’ % Range period 20 is in the overbought region. The recent pullback in the context of an uptrend is a good opportunity to go long now, since the position of the Williams’ % Range shows that the bullish movement is already in place.

This year, bulls could push FTSE 100 price towards the supply zones at 8000.00, 9000.00 and 10000.00.

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