UK100 (FTSE) has climbed above it weekly trading channel again this week.
The losses that we saw about a month ago almost erased completely.
As I see it, there are two bearish scenarios that I find interesting in UK100:
1) False Break scenario - Will be triggered if UK100 will decline and close below 7200. Currently we see a daily double top pattern near 7300, but as long as the price is above the channel's top the False Break scenario isn't in play
2) If UK100 will advance about 4-5% higher, it will complete a bearish Butterfly pattern. That will be between 7600-7700. With the bullish sentiment that we currently see in the markets no one will be amazed to see UK100 rallying 4-5% .... despite the amazing run it had already.
BTW we have a similar situation in GER30 near 12,000.
If you are looking for bearish opportunities - I just provided 2 for you.
*Make sure you do your own analysis before making any trading decision
The losses that we saw about a month ago almost erased completely.
As I see it, there are two bearish scenarios that I find interesting in UK100:
1) False Break scenario - Will be triggered if UK100 will decline and close below 7200. Currently we see a daily double top pattern near 7300, but as long as the price is above the channel's top the False Break scenario isn't in play
2) If UK100 will advance about 4-5% higher, it will complete a bearish Butterfly pattern. That will be between 7600-7700. With the bullish sentiment that we currently see in the markets no one will be amazed to see UK100 rallying 4-5% .... despite the amazing run it had already.
BTW we have a similar situation in GER30 near 12,000.
If you are looking for bearish opportunities - I just provided 2 for you.
*Make sure you do your own analysis before making any trading decision
Bearish setup still in play