FTSE 100 Forecast Update: February 28 2021

FTSE 100 updated scenario 3 Feb 28 21

Movement last week on the FTSE 100 made us very much interested in our Forecast Scenario 3 (the RED line scenario) and there’s something in it for both Bulls and Bears!

We can now see an interesting long opportunity which may come into play between the last week of March 2021 an the middle of May 2021. This is very interesting for a number of reasons:

  • It hits our “super important” GREEN LINE.
  • It would “confirm” our unconfirmed trend line.
  • It would hit the 61.8% retracement on the rally to January 7 2021.
  • It’s a mid cycle point for an “upward cycle”.
FTSE 100 updated scenario 3 Feb 28 21
FTSE 100 update to Scenario 3

This would see a strong rally up to mid June (we’ve moved it back about a month) before meeting our low risk short. We have also projected a “weaker but longer rally” into November 2021 but will leave that off the table at present – it still goes up to the same “RED LINE” but takes a few more months to get there.

At this stage none of the scenarios are off the table – sorry!

In fact we can even see short zone 1 being hit but the scenario 3 long being played out.

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As always our posts are not investment advice. If you wish to trade or invest based on our analysis you should do so with great caution and consult your financial adviser. Remember never to invest or trade more than you can afford to lose.