TipTVFinance

FTSE100 – Double top breakdown on cards, but caution advised

TVC:UKX   Index of the 100 listed UK companies
The index could see a gap down opening around or below 7000, which is the double top neckline, however caution is advised since 5-DMA and 10-DMA are yet to confirm a bearish crossover and more importantly 10-DMA is still sloping onwards.

Hence, we could see a minor correction… although it is to be noted that bearish invalidation is seen only above record highs.

Watch for- Rejection at 4-hr 5-MA followed by a break below 7K levels as that would signal a more pronounced sell-off to sub 6900 levels.
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out