FTSE Forecast August 11, 2015, Technical Analysis

The FTSE as you can see fell during the course of the session on Monday but found enough support at the 6660 handle in order to turn things back around and form a hammer. There is a significant amount of resistance just above though, so although this is a very bullish candle, we do not anticipate this market moving rapidly to the upside. You are going to have to be comfortable with the volatility and a lot of back and forth motion in order to take advantage of what we believe will be a move to the upside after a short term volatile breakout.