Nice resistance for the index, if not up, watch-out for heavy selling.
Prefer short position @6770 / 6738 / 6660 Targets : red circles
RSI divergence and a MACD crossover suggest UK100 is heading for another downtrend. I am just waiting for an RSI cross below 50 to confirm the negative trend.
Some levels to watch, and I am comparing DAX / CAC40 / EUSTX50 with the Footsie, = = = ALL of Europe bearish or just " the Continent " ?! ....:-)
FTSE doubled topped in year 2000 & 2007 at price levels $6490 & $6627.. Now price is heading back to those levels, but as previous resistance now turned support.. Price action has formed a nice little trend channel which gives me confidence of taking the bullish bat reversal pattern. ********************************************************** For inquires of...
but already building possible reverse positive
All technicals lead to a short fundamnetalls are saying its a long, however the demand is high in the uk economy due to the property however the supply is not able to recach it