Price rangebound. expecting bullishness after accumulation on POC.
Potential move up to complete the head and shoulders pattern. That could lead to a fall. At the same time, we could see price move back into value to the point of control, and even further. I do doubt we will see a large fall as the UK market has shaken off Brexit uncertainty extremely well. In this case, it is possible that 3000 could be seen.
Purely volume based technicals here. Upside at target stated in title. Would look for shorts in this area.
Today, Bank of England governor Mark Carney said a rate cut is needed after the Brexit vote and hinted that it could come as soon as this summer! This news got the FTSE and the DAX flying up to nearly 300 points. Also, the Feds stated this week that they may cut rates this summer as well, possibly even this month (July) so that is really great news for global...
this pattern is developing after 2 weekly resistance breakouts, so I am really interested and I see lot of room for next move up.