Daily close below support level 6780 confirms short opportunity on FTSE 100 targeting 38.2% Fib retracement level at 6570.
Dip from 6851 to 6805 this afternoon
FTSE 100 is retracing from the 6780 support zone. Consider reentering short from 6860 targeting channel breakout and further decline down to 6570.
As "Brexit" vote didn't even happen, the UK index FTSE reached almost 2015's highs without even stopping at the 200 weeks MA line that should have acted as some sort of resistance... and failed. Now, near 7000, the FTSE completes a bearish Bat pattern (weekly) and also testing the bottom of a trading channel that held the price in it throughout most of 2013-2014....
If the current high on the FTSE holds, i will be anticipating a 61.8% re-tracement (from the last area of supply and demand to the current high) this 61.8% also coincides with a daily breaker
Short entry below 6870, stop 6960, target 6700 (23.6% Fib retracement area or lower channel's range value).
Short risking a new 2016 high. The ECB, FED and all other central banks are superficial inflating and doing all they can but the world is in disarray and needs a breather.
Short risking June'16 high. The ECB, FED and all other central banks are superficial inflating and doing all they can but the world is in disarray and needs a breather.
Short risking last week's high. The central banks doing all they can but the world is in disarray and needs a breather.
Inverted H+S - A break and close above 6818 would confirm further uptrend up to a possible of 7500 (considering 7128 is broken and closed above). A retest of the neckline is a great buy opportunity and shorts should be below this neckline. If the neckline is broken, the pattern is invalidated at the downward pressure will commence.
Little need for technicals when the equity market is pumped for higher, a weaker GBP, further QE and global uptrend will see this trade back to the 7000
PRICE ON THE DAILY CURRENTLY SITTING WITHING A MAJOR BUY ZONE, AS YOU CAN SEE BY THE POINTS HIGHLIGHTED IN SEPT 2015 AND ALSO 2014 ZOOMING IN A LITTLE THE DAILY CANDLE FOR FRIDAY TIRED A STRONG PUSH BEARISH POST NFP BUT THE 8/1 FAN ZONE KEPT IT IN CHECK FORMING A NICE DOJI. A BULLISH DAILY CANDLE TOMORROW WOULD INDICATE A HIGHER LOW AND WOULD INDICATE FURTHER...
An overbought ftse is due to fall, i am short at 6700 and todays strong test and pull back from the 3/1 level further confirms bearish sentiment, first tp is at 6400 and the second set just above major support zone 6200..
Declining RSI (14). Strong resistance. MacD and K.S.T. (Know Sure Thing) about to cross. Weak fundamentals
If we look at the AEX we are seeing an uptrend, but if we look at the FTSE, we are seeing an breaking-out above the upward trendline. If we look at the RSI index we are seeing an really long trend the last time above our upper band. If we look at the MACD we have some pression the last semair. If are looking aging at our stockimage in the bollinger bands there...