Stocks on the UK bourse ended in the red yesterday, extending losses for the third consecutive day, with the benchmark FTSE 100 index on the London Stock Exchange plunging 1.05% or 77.48 points. bearish may be limited to the support area before a rebound.
London's UK100 rose on Monday, boosted by gains in financial and energy stocks. London's main share index fell last week on escalating worries about a recession and bets of bigger interest rate hikes after a cautious raise by the Bank of England.
OANDA:UK100GBP have no power to breakout above the highest resistance area Aug 2019 - Jan 2020. Last month UK100 was bearish to the diagonal trendline support, and returned to the horizontal resistance area . However, at the end of 2021 there was a bearish divergence signal. where the price is bullish but the flat indicator value tends to bearish.
Bearish...
Had a false breakout of a channel and reversed at a support level. Now it's likely to test the highs. The new plan is to sell the high test with stops at around 7900 or slightly higher (will depend on the price action as it reaches there). The target is a return to the blue support level.
Looking to see if we can get a continuation from the previous move on 04/20.
I'm already short @ 6931.95 SL @ 6971.81 and TP @ 6591.71
Will see how it plays out.
Thank you for your continued support! :)
FTSE Bursa Malaysia KLCI closed higher 15.63 points at 1.15% today.
I just noticed the previous idea was titled wrongly because I referenced my PC's time at midnight.
Asian indices were generally in the green today as China released better than expected trade data. The FBM KLCI staged a breakout at the 1360 region short...
Thank you for your continued support! :)
This Monday, the FBM KLCI main index closed 0.11% or 1.47 points lower. HKEX is closed for Easter Monday, and the US markets don't open until at night XD. Overall, KLCI was in sideway movement today.
The bears teased the 1350-1353 region, but a quick support was found as the KLCI touched today's lowest point at 1352.78,...
GOOD AFTERNOON TRADERS, ITS GOOD TO BE BACK! HERE WE HAVE A POTENTIAL SELLING OPPORTUNITY ON THE UK STOCKS. THE CURRENT DAILY PRICE ACTION IS A BEARISH ENGULFING AND IF FINISHES THIS WAY WILL CONFIRM ENTRY BUT I'D STILL LIKE MORE FROM CANDLES FOR A STRONGER CONFIRMATION. IT HAS MULTIPLE CONFLUENCES FROM A TECHNICAL STANDPOINT TO BACK UP THE SELL AND ACCOMPANIED...
I don't usually do this, but I wanted to start tracking the footsie100. I am going to keep it short and sweet for now because I don't want to get assassinated by the UK government LOL.
From where I stand, the recession is in full swing. Look at the first cross of the 30-day VWMA over the 90-day VWMA on the 31st August and look at the potential cross again at our...
So how many of you were surprised and got caught off guard with the recent market bloodbath? Be honest! Were you all surprised about it? If you weren't and you cashed in on this massive drop, congrats! As for me, I warned about a coming BIG MOVE way back on January 9th on my site to the people who trusted me that this was coming and issued a SELL recommendation to...
Unlike the Nikkei and SPY, the FTSE100 is less decisively bullish. It looks as though we may be in the midst of an ending diagonal that may present a selling opportunity. For now, I am cautiously bullish but on the sidelines until further signals present themselves.
The footsie had formed a 'time at mode' signal on the daily chart which has already hit the projected target. Since it only has one day left (Time at mode signals project a price target and a time duration for the possible rally), we can go short if we get a new daily low, with stops above today's high, tomorrow.
Good luck!
Ivan Labrie.
