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Published on 3 Jan 2017
The
FTSE 100 has been on an upward trend for the past month or so now and
technical analyst Zak Mir doesn’t expect this to change any time soon.
“It looks like there is a lot of momentum behind this market,” Mir explains.
“The market broke back above the 50-day moving average earlier last month [6,896] and really while we’re above that we’re ultra-bullish.”
In his latest episode of the Tip TV Proactive Investor Bulletin Board, Mir adds that the blue chip index has the potential to set more records in the coming weeks and months.
“Just in case you think we’re too high or we’re at the top of the range, we do have that scope to head as high as 7,500 especially while we’re above the 7,000 mark.”
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