Cabana Capitals Blog Technical Analysis Confirmed breakout on FTSE 100 1 hour chart

Confirmed breakout on FTSE 100 1 hour chart

Confirmed breakout on FTSE 100 1 hour chart post thumbnail image

FTSE 100 has broken through the support line which it has tested twice in the past. We have seen it retrace from this line before, so one should wait for confirmation of the breakout before trading. If this new trend persists, a target level of around 8391.5403 may materialize within the next 13 hours.

Supported by Downward sloping Moving Average

Target: 8391.5403 Entry: 8409.9909 Stop: 8454.4

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