finish at 7204 (138.%fib) OR 7135 (162%fib) Good Luck
Would you please update your opinion on the FTSE , when possible.
A fellow tradingview.com contributor has a very bullish opinion on the FTSE right now looking for 8000 by October.
I-Shares UK ETF EWU has built what could be a bullish cup pattern in place, waiting possibly for the handle,on the next decline.
Below is the monthly chart I work with and the ADR, Momentum graphs. These are clearly bearish and especially
into wave 5 of this long ending diagonal. Note the pp and the large number of reliable touch points of the top
trendline. Past history suggests that FTSE turns before the US indices which may be at an all time high soon on
very bearish indicators! October has been a volatile month in the past and I will be watching developments like
a hawk and especially the Nasdaq100 which may lead any decline.
It is still possible that FTSE is in wave 3 down but more likely a leading diagonal, if 7508 is broken this will confirm!