A triangle price pattern and RSI near 50 shows that daily FTSE is entering the final stages of consolidation. this means we shall soon see the next big candle move from the market.
On the fundamental side things are looking bearish as virus cases spike again and IMF and Central Banks are being very negative regarding the economic recovery.
The contrarian point is that potential stimulus, even more of it, could boost the stocks to keep indices from falling.
In UK Boris Johnson said today that next week the Economy Phase 12 plan will be rolled out. He actually said the same thing in his May's speech, so I am not having much faith here.
Many cities across the globe, including the UK, are starting to close again because of the virus spikes, so markets are very cautious and more on the bearish side.
Please support the idea and share your thoughts on FTSE!
Good Luck and Stay Healthy!
On the fundamental side things are looking bearish as virus cases spike again and IMF and Central Banks are being very negative regarding the economic recovery.
The contrarian point is that potential stimulus, even more of it, could boost the stocks to keep indices from falling.
In UK Boris Johnson said today that next week the Economy Phase 12 plan will be rolled out. He actually said the same thing in his May's speech, so I am not having much faith here.
Many cities across the globe, including the UK, are starting to close again because of the virus spikes, so markets are very cautious and more on the bearish side.
Please support the idea and share your thoughts on FTSE!
Good Luck and Stay Healthy!