TipTVFinance

FTSE100 – Bullish break in RSI, but exhaustion in price

TVC:UKX   FTSE 100
Retreat from the intraday high of 6880 to 6850 following a daily candle with a long upper shadow suggest the rise from the Sep 12 low of 6777 could have run out of steam and the index may turn sideways to negative, although reckon the support at 6800-6779 would hold in the wake of the bullish break in the daily RSI .

Overall, the index appears poised to re-test 6900 and possible break higher towards 7K levels.

Bullish invalidation is seen only if the index sees a day end close below 6779.
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