jevanss25

FTSE Shorts look primed if no deal Brexit

TVC:UKX   UK 100 Index
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Ultimately the conclusion of this weekends Brexit talks will dominate how the FTSE moves next week.

IF there is not a positive conclusion to the talks, then the Sell set up looks primed, we have the following confluences;

- RSI bouncing off 70
- Momentum Divergence
- Momentum Weakening
- Bearish Engulfer
- Market broke the previous Post Covid high last week, with the above factors, it suggests the rally is over extended


UPDATE***
Just announced - EU Brexit talks to continue into next week, hardly surprising, but likely invalidates the above

Comments

Yep a move back up to 6600 first thing Monday
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jevanss25 JBUK100
@JBUK100, Agreed mate, it will likely be a week of further talks with little progress, but the fact that talks are continuing in any capacity will be enough to boost the market in the short term.
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