BFCMInvest

FTSE100 Short !

TVC:UKX   UK 100 Index
The price has returned to fall with the crossing of the dynamic resistance identified by the EMA 200 and 20 weekly at about 7000 points, and then immediately rejected by 150 points on the downside. The level 7000 is a crucial barrier for the direction in the short term: until it will remain below, the most plausible target is the support in the 6400 area; an upside break would lead to the cancellation of the current trend, bearish for 7 months. With an unstable government, low approval for May and the brexit back on the roadmap, the most probable road for FTSE 100 is to continue this downtrend at least up to the support just mentioned at 6400 points. The first target is 50% of the Fibonacci retracement at 6700.

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