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FxWirePro Call Review: Book profits on FTSE100 long positions; outlook revised from bullish to bearish

In April 2016, we at FxWirePro suggested to our readers that the UK’s benchmark stock index, FTSE100 which was then trading at 6320 that it might be aiming for 7000 mark in an article named, “FxWirePro: FTSE may be aiming for 7000 mark”  available at https://www.econotimes.com/FxWirePro-FTSE-may-be-aiming-for-7000-mark-194007

In subsequent articles, we added several targets (7100, 7300, 7500, and 7700) and in an article published in October last year, https://www.econotimes.com/FxWirePro-Call-Review-Maintain-long-positions-in-FTSE100-targeting-8100-950241 we reiterated our commitment to the alongside targeting 8100.

We also recommended partial profit bookings as several targets were reached.

While FTSE has reached most of our targets (7100, 7300, 7500, and 7700), it has failed to reach our final targets at 8100 area in the current run. The massive selloffs that rocked the global stock markets have pushed the FTSE100 lower, which is currently trading at 7240 (UK100).

In this article, we would like to urge our readers to book profits on their leftover positions at the current rate and at rallies, as we are revising our outlook in FTSE100 from bullish to bearish.   

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