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dann3persson

Short FTSE trading below weekly 50 ema first time since June 16!

Short
UK 100 (OANDA:UK100GBP)  
dann3persson Updated   
OANDA:UK100GBP   UK 100
Trend Analysis Support and Resistance Trend Lines ftse100 UK100 CFD uk100short
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trendanalysis supportandresistance trendline ftse100 uk100 uk100short
Following the sell off in equity the FTSE broke below the weekly 50ema and formed a lower high on the daily chart. The past couple of weeks price has retraced to the 0,382-0,5 fib retracement and decelerated at the key S/R level of 7300. First target is around 7100, second target around 6900...
Comment:
The weekly 50ema is comparable to the daily 200ema (green ema in the picture)
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