TheMauritianStockTrader

FTSE 100 crashing soon ?

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TVC:UKX   UK 100 Index
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It has been a long rally for the FTSE 100 after the Brexit . This was due to the pound collapsing against major currencies making it the worst performer for the year.

The queen's currency is now showing some strength ! We might see the GBP appreciating (more than it should) when Italy's constitutional referendum will be pronounced this Sunday.

Moreover a Head and Shoulders pattern appeared on the weekly graph and the neckline was touched today the 01 /12/2016. It acted as a strong support for the FTSE 100 .

If a vote against Renzi is confirmed Sunday be prepared to take position on the breakout :)

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