a sceptical trade set up I made back in October, bearish consolidation on long term bullish trend rings bells.... trend exhaustion and now leading to reversal into a possible .618 retracement. With ever stumbling oil prices and the big boy's BP-3.17% and Royal Dutch Shell contributing to 10.8% of weighting in the FTSE100, surely leading to trend exhaustion and retracement backed with the technical analysis. Furthermore, FTSE100 10-year returns have been on the decline since Q2 2015. With RBS-3.59% predicting that oil prices could decrease by 20% to $16 per barrel rings even more bells signalling downfall. Inflation levels just scrapping positive for the first time in 6 months may be a relief but may still not be enough to continue economic growth and continue to reach the Bank of England's target 2% target.
Fortunately for me I entered this trade in early November and everything has been A-OK
Update status
Fortunately for me I entered this trade in early November and everything has been A-OK
Update status