FTSE Forecast November 4, 2015, Technical Analysis

The FTSE pulled back just a bit at the open on Tuesday, but found enough support at the 6350 level to turn things back around and form a small hammer. We believe that the market should continue to go back towards the top of the consolidation area that we have been in recently. We believe that the market should continue to go to the 6450 level, and then eventually the 6500 level. We believe that the 6250 level below is essentially what we would call the “floor” in this marketplace at the moment.