FTSE
Weekly: downtrend, has been clinging to averages, 6000 support level failed
Bullish Stochastic cross near oversold may mean short term bounce
Daily: upward move from March low has now turned over and is slowly making LHs/LLs, price failed to reach 200 MA
There may another retest of the 6000 level if price goes back up through 38 Fib level again but then further bearish moves can be expected
E: 5835, S: 6010 (just above resistance), T: 5320 (overshoot of 61.8 Fib level)
Alternatively, if price blows back through 6000 all the way to the 200 MA this entry would be void.
Weekly: downtrend, has been clinging to averages, 6000 support level failed
Bullish Stochastic cross near oversold may mean short term bounce
Daily: upward move from March low has now turned over and is slowly making LHs/LLs, price failed to reach 200 MA
There may another retest of the 6000 level if price goes back up through 38 Fib level again but then further bearish moves can be expected
E: 5835, S: 6010 (just above resistance), T: 5320 (overshoot of 61.8 Fib level)
Alternatively, if price blows back through 6000 all the way to the 200 MA this entry would be void.
Comment:
Stopped out 29/09, -1R