FTSE 100 – Weekly Technical Analysis 20/10/2014

The FTSE as you can see had a very negative week during most of the trading sessions but as you can see bounce significantly from just below the 6100 level to form a massive hammer . Because of this ,it appears that the market has found a significant amount of support in order to perhaps go higher again. When you look at the charts from the longer- term perspective ,e could have possibly just made a little but of a double bottoms as the FTSE could bounce as high as 6900 . In order to get the correct technical’s signal ,we would have  to break the top of the 6400 level to start buying.