FTSE100: Grinding closer to key cloud chart resistance zone:5877
FTSE100: Grinding closer to key cloud chart resistance zone:5877. Critical week ahead to see if the FTSE will break past the bottom end cloud chart resistance zone! Two lines meet here, the bottom end of the cloud, and the base line resistance zone of the cloud!
If resistance holds at the bottom end cloud, then we will be heading lower to the 5397 support zone! If the FTSE can break past 5877
zone, then the next target will be the top end cloud chart resistance zone: 6226!
For a bull market to start again, price action needs to be above the cloud! Price action is below the cloud and this is still overall bearish! We need to see the breakout past this resistance zone!
FTSE is up 16%+ since the buy signal!
Criticla week ahead !
If resistance holds at the bottom end cloud, then we will be heading lower to the 5397 support zone! If the FTSE can break past 5877
zone, then the next target will be the top end cloud chart resistance zone: 6226!
For a bull market to start again, price action needs to be above the cloud! Price action is below the cloud and this is still overall bearish! We need to see the breakout past this resistance zone!
FTSE is up 16%+ since the buy signal!
Criticla week ahead !