FTSE100 – Inside day candle, scoep for profit taking

TVC:UKX   FTSE 100 Index
Yesterday was an inside day ( candlestick pattern) and therefore it is a sort of gentle warning to bulls looking to initiate fresh longs.

The pattern is not a reversal pattern by itself, but given the fact that the index is rallying near record highs and stops are well below the current levels a bout of profit taking is likely. Thus, the index could retreat to 7K-6950 levels.

On a larger scheme of thing, there is little reason to fear so long as we are trading below 71K handle.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out