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TheAceOfAlts
Feb 23, 2022 12:16 PM

UK100 - Massive rising wedge near breaking point Short

FTSE 100 index of UK listed sharesFXCM

Description

The UK100 is looking very bleak for the foreseeable future. A massive rising wedge has formed on the 3D and looks to break at any point in the next couple of months.
Combine this with rising inflation and fears of conflicts in Russia, all provides the perfect setup for the UK100 to take a large pull back.

It is also worth noting that the OBV has broken down already, is the rising wedge next?

Comment

Breakdown confirmed, 6500 here we come
Comments
Leo-btm
clean analysis thanks for sharing
TheAceOfAlts
@Leo-btm, appreciate the feedback, thankyou
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