FTSE Forecast November 20, 2015, Technical Analysis

The FTSE rose during the course of the session on Thursday, breaking above the 6350 level. With this, the market pullback a bit, but we also recognize that the hammer that formed during the Wednesday session suggests that this market is going to go higher, perhaps towards the 6450 level. If we can break above there, and more and poorly the 6500 level, we are longer-term buyers as this market should show quite a bit of bullish pressure after that. In the meantime, we do believe the market goes higher, but we recognize the choppiness will be common. We have noticed whatsoever in selling.