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FTSE100 – Bearish RSI divergence on weekly

TVC:UKX   Index of the 100 listed UK companies
The FTSE 100             is set to the end the week lower. Prices failed to hold gains above 7100 levels for the second week, while the losses were capped around 6930 area for the third straight week.

Nevertheless, the weak closing would confirm bearish price RSI divergence. That would add credence to the breach of the rising trend line drawn from the June low and September low.

Expect upside to be capped around 7000 levels next week, while selling could gather pace below 6930 area.
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