UK100 is Bearish - We look to Sell at 5965
▪️ Overnight price action has drifted lower and remains pressured by the medium term bearish bias.
▪️ Levels close to the 61.8% pullback level of 6000 found sellers.
▪️ Broken out of the channel formation to the downside.
▪️ We look for a re-test of the upward trending resistance.
▪️ Further downside is expected...
FTSE is on the way to retest the broken trend line again.
Potential to looks for reversals on smaller time frame to trade the bounce.
Morning started on a bullish note for equities and US session starts in 30 mins, so volatility will go up.
Please support the idea and share your thoughts on FTSE!
Good Luck and Stay Healthy!
UKOIL reversed off its resistance at 31.12 where it could potentially drop further to 28.66.
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UK100 is Bearish - We look to Sell at 5933
▪️ Broken out of the channel formation to the downside.
▪️ We have a 50% Fibonacci pullback level of 5936 from 6209 to 5665.
▪️ Positive overnight flows lead to an expectation of a firm open this morning.
▪️ Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 5933,...
There's an interesting battle building up in the FTSE 100 (UK100), after which we should have a much better idea of whether this rebound has legs or they're going to be sweeped from underneath it.
The charts were starting to look quite promising. We had a clear uptrend and price broke back above the 200/233 period simple moving average band on the 4-hour chart....
UK100 is Bearish - We look to Sell at 5867
▪️ Broken out of the channel formation to the downside.
▪️ We have a 38.2% Fibonacci pullback level of 5872 from 6209 to 5664.
▪️ Negative overnight flows lead to an expectation of a weaker open this morning.
▪️ Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 5867,...
the UK 100 CFD is an index-based contract for difference, tracking the price move of a basket of 100 of the largest UK companies. It can be a more cost-efficient way of having market exposure to UK companies than trading individual shares. The UK 100 CFD is based on the London-quoted FTSE 100 Index, which is a good proxy for the broader UK market. The FTSE 100...
Recent price action in the FTSE 100 has certainly been encouraging but it may be a little early to celebrate.
The pull back a couple of weeks ago was very brief and never really gathered any momentum. Moreover, broadly speaking price never held below the 55/89 simple moving average band on the 4-hour chart, which could be viewed as bullish.
Since then we've seen...
hey guys,
a perfect example of a reversal pattern on UK 100 index.
we see an ascending triangle with a sequence of higher lows and a strong horizontal resistance that still holds!
wait for a bullish breakout of 5850 resistance and buy on pullback expecting a bullish continuation.
target levels:
6150
6500
based on structure!
good luck!
if the market...
OANDA:UK100GBP [/symbol Triangle breakout opportunity
several indications on eminent breakout
- Last two weeks candles closed bearish hanging man
- Seems like we finaly reached the end of this triangle patter build up
- Macd divergency
- RSI divergency
it can go either way but the last two week candles combined with the MACD & RSI divergencies indicate a...
We've seen a bounce in the UK100 in the final hours of trading on Monday but I'm far from convinced this changes the near-term outlook for the index.
Firstly, the MACD and stochastic on the 4-hour chart don't suggest there is enormous momentum behind the move, even if it is still early on.
Secondly, no key resistance levels have been broken. Of course, there's...
