FTSE100 - bearish break from rising wedge pattern

TVC:UKX   FTSE 100 Index
FTSE's bearish break from the rising wedge pattern amid overbought conditions suggests a technical correction to weekly 5-MA of 6530 could be seen over the next few days.

On the other hand, an hourly closing above 6743 would put bearish view at risk, although bearish invalidation is seen only if prices see a day end closing above 6743.4. In such a case, the upper end of the rising wedge could be put to test.
Historically second week of July especially in the US election year is when stock markets witness a pull back - This pattern and other seasonality aspects well explained by the guest - Alessio Rastani - on today's TipTV show - Seasonality suggests equity market pullback in July, Coal set for a rally - LeadingTrader - https://www.youtube.com/watch?v=csDyzr7ALp0
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out