Kumowizard
Short

From inverse H&S to a double top?

TVC:UKX   FTSE 100
54 0 3
Weekly:
- After completing a one year long inverse Head and Shoulders pattern, FTSE100 delieverd a bullish Kumo breakout and marched almost straight to 2015 highs. Strange times... strange market behaviours.
- Ichimoku setup is bullish , but Price is far above Kijun Sen and the longer term equilibrium level of appr. 6400.
- Hekin-Ashi started to signal some indecision.
- Negative divergences in haDelta, DM_Oscillator and EWO
- MACD chance to cross down.
- Possible double top at 2015 highs.

Daily:
- Ichimoku is bullish until price holds above Kijun Sen, but bullish trendline is being tested.
- Possible bearish wedge pattern?
- Heikin-Ashi swignal is swing bearish
- MACD cross down + longer term negative divergence

Support zone is 6815-6890. Below that space could open to target 6300-6400 area.


Do you think a weak GBP alone is enough to keep UK stocks afloat? I think Brexit effects on real economy just started to show up.
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener 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 Billing Sign Out