UK 100 slowly slowly.. Short

FTSE 100 Index (UKX)FXOpen

Description

⋅ Dec 9, 2021 9:42 AM

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Here we have our little unchanged UK 100 chart.

The current rally and market sentiment has driven this asset back to recent highs.

Price is way too high now and at sell zones we formerly discussed.

We are now looking short back down to former Support and our Key MA's.

Comments

giotaylor1000

⋅ Dec 9, 2021 12:36 PM

Slow drop but can see this targeting 7,000 in due course purely on fundamentals as the focus on Omicron and the fact it may take some time before clear analysis work is determined. As well as this we have inflation coming up and will be the focus. High street Christmas sales will clearly be impacted as restrictions become tights in which quarterly reports for Q4 this year will see further impacts on FTSE100 in Q1. Do not be surprised if we see FTSE100 drop back off to lower support levels around 6,900. Good luck everyone.

WillSebastian

⋅ Dec 9, 2021 12:49 PM

@giotaylor1000, Yep, lots of movement available to the downside. Sentiment will have to be seen