London Stock Exchange

**This is a re-post of the London Stock Exchange (now LSEG, LSE previously) idea (below). Tradingview help-desk were unable to attach the idea to the new ticker symbol. So far price action is down almost 30% since original post in January.**

A 2300% gain and following overbought condition (green column) there now exists a 16 month bearish divergence between price action & RSI on the above 10-day chart. Time to collect profits. Sell out between current price action until 10.5k, no rush.

Target price? For as long as the RSI resistance exists price action will likely fall through and until 2023.

1st target 4400

2nd target 2000

Fundamentally as a business LSE provides a variety of financial services. Many of them to EU located individuals and businesses. Since the UK left the EU much of that trading business has and/or will continue to move to another EU country. As the UK opted for self inflicted economic sanctions (a world first?), charts are now showing a number of EU owned UK based businesses with similar divergences. Most notable within Financial services and Engineering businesses.

Trade active:

Abandon ship. Even the lifeboats are sinking.

Trade active:

** warning - death cross - purple circles **

This is about to get serious. It will be headline news.

The last time the 150-day SMA (yellow line) crossed down the yearly EMA (green line) the stock crashed 70% !!

Is this time different?

Some observations from the 10-day chart (below):

1) The *death cross* is confirmed. That’s not my opinion, it is a fact of the chart.

2) A 70% correction takes price action to 2008 resistance (orange line), which has never been tested.

3) A 70% correction would also be within the megaphone pattern.

I don’t know what is about to happen. However reading the chart I would say something significant is about to occur within the British economy by the yearend. Perhaps something to do with putting up trading barriers with your neighbours!

Buckle up and be safe.

WW

Trade active:

*** price action breaks down 100-week EMA (red line) ***

December 2011 - that was the last time price action broke this level. However price action was oversold higher lows. Looking left, March 2008 price action was overbought and printing lower highs, just as is happening today.

If what followed in March 2008 is about to occur by March 2022, the index will could very well see a sell off down to 2000.