The 50-day EMA is around 7 00 and rising, so it’s probably worth noting that the market is likely to pay close attention to this. , The FTSE 100 rose slightly in Thursday’s trade, climbing back above the 7,600 level. There is still a lot of noisy behavior in the market at the moment and it is now threatening some kind of major breakout. In fact, you could almost argue that the UK is going into recession, which should help stocks because people will automatically believe that the Bank of England is doing everything it can to provide liquidity to the market. In other words, they want a manual in London. Advertisement WANT TO TRY MT5 YOURSELF? Open Demo Now Any current pullback is likely to offer value that people have been willing to take advantage of, especially near the 7500 level. The 50-day EMA is around 7 00 and rising, so it’s probably worth noting that the market is likely to pay close attention to this. The area between that and the 200-day EMA opens the door for even more support, so ultimately I think you have a situation where there are enough buyers. Pay attention to the British pound. After all, the idea is that cheaper pounds lead to cheaper exports. This should actually increase profits, but for now the most important thing is just to follow the market. If the market continues to move higher from here, possibly to clear the 7700 level, I think we could reach the 8000 level in the next few trading weeks. On the other hand, this pullback should provide a buying opportunity, but if we break below the 200-day EMA, it would be very negative. In this scenario, we could see the FTSE 100 fall to the 7,200 level that was brought before. Anything below could open up a push, but honestly, it looks like we have enough strength that it’s more likely we’ll go to the top. It will be especially interesting once we get full volume back, which I think will start sometime next week based on historical standards.