By FXEmpire.com
The FTSE 100 had a slightly bullish week over the last five sessions, but as you can see by the charts simply didn’t move much. At the end of the week, we were fairly unchanged. This market looks like it’s running into serious resistance at the 5900 level, and as such we think that buying at these lofty levels is probably a fully thing to do.
However, it does look bullish and as such we are more than willing to buy on pullbacks. We see support at the 5800, and especially so at the 5700 levels. With this in mind, we are simply waiting for those pullbacks in order to get involved. It should be said however, that the American indices look much stronger at this point in time. In fact, they are just about ready to breakout while this one is a couple handles away from doing the same thing.
Click here to read FTSE 100 Technical Analysis.
Originally posted here
