FTSE Forecast October 31, 2014, Technical Analysis

The FTSE as you can see initially fell during the course of the day on Thursday, but found the 6375 level as support and ended up forming a nice-looking hammer. That hammer of course suggests that the market is going to go higher, but we need to get above the 6500 level in order to feel comfortable enough to start buying. At that point in time, we believe that the market will then go to the 6900 and level, and possibly even farther to the upside. We have no interest in selling, and continue to look at pullbacks as buying opportunities.