My short-term bias is still bearish. I feel price will fall to at the least close the gap. I'm not confident this is a solid break of this short-term resistance as price has failed to take this level with any real conviction. Price is currently stalling at the 61.8 fib which I mapped out on the 1hr chart for this current retracement. self explanatory
Hi, on this chart, I have drawn, important weekly and daily support marked by green line. Then I have drawn a parallel channel ( almost, a bit modified due to price fulucatations ) which displays the price reaction points. My view is that FTSE would rise, and touch the upper trendline. I have also posted instructions on the chart itself. Thanks.