Responding well to trended support / possible bottom

25 0
Price has broken down quite consistently with the main FTSE indexes in this case since around September - although topping and divergence now seen much earlier.

Price has fallen to quite a long term trended area of support where it has responded positively - this I feel is consistent with a horizontal test of the large monthly candle in 2017 where the price rose extremely quickly and trading was very thin. This is being revisited almost as if it were a gap.

The full candle has not been retested - and may or may not need to be, this downside is now the risk of further price reduction as I see it.

On the positive side, the response from the trend support has been strong, price has started to move upward and technical indicators are all exhausted to the sell side.

Upside targets are attractive and require the price to close higher than the weekly candles on the way down - which it has failed to do since October. Therefore if we see a break back above 1164 this will signal the start of a more concerted move higher.
EN English (UK)
EN English
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Send feedback Ideas Published Followers Following Private Messages Chat Sign Out