Kumowizard
Short

Consolidation, bearish bias, Head and Shoulders

TVC:UKX   Index of the 100 listed UK companies
66 1 6
Weekly:
- Still looks like a double top .
- Ichimoku is bullish , but Pprice is still very far above its equilibrium. Should consolidate or pull back more.
- Heikin-Ashi shows consolidation. This week haDelta will be important. If crosses down at zero, then bearish .
- EWO             is bullish , with decreasing momentum. MACD also shows consolidation.

Daily:
- Ichimoku has bearish bias.
- Heikin-Ashi shows indecision, consolidation below Kijun Sen. Price action may turn bearish again if haDelta and DM_Oscillator dip below zero levels.
- EWO             is bearish
- Watch the possible bear flag: selling pressure would increase below 6765.
- In case market trades higher first to/above 6910, but reverses down from Kijun and Kumo later, then we can also have a Head & Shoulders pattern.

In case FTSE-100 delivers a clear sell signal and market continues bearish on the daily, first target will be around 6400-6450, second target at 6200.
Where is FTSE now?
Thanks
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