UK100 is testing the PRZ of a monthly Butterfly pattern. The price is also testing the top of a weekly ascending trading channel. Unlike SPX that keep on rising, here we have a setup that can be used if you wish to short stocks. 7700-7800 Key Resistance Zone
H4 - Bearish convergence, double wave correction, price broke below the uptrend line and is moving lower. H1 - Double wave up with bearish divergence price broke below the uptrend line, We have a big double wave down and the second leg of this double wave has broken below the 100 fibo level. A flat correction has happened, price broke below the bottom of this...
TREND CONTINUATION INVESTORS WILL SUPPORT THE UP MOVE. RSI OVERSOLD + SIGNS OF CORRECTION
This stock is in bear trend but has found some strength to recover some lost ground mainly due to general strength of the UK stock market. It's retesting the level of support from the wedge formation and should find resistance, terminating in a return to the downside.
Uk100 Negative Divergence Setup, another try!
FTSE 100 Index UK100 Short and Longer term Forecast for 2018 Fantastic straight-line break-out finally achieved by FTSE 100. Bull markets climb walls of fear. That wall is Brexit. FTSE keeps climbing and pays the nay-sayers no heed. They are the most slow-witted fools remaining. But never forget, the market needs mugs. The 80% losers pay for the 20% winners'...
UK100 is at the moment touching the strongest 7600 resistance line. There are now 2 topping tail which indicates rejection of closing the price higher. Also RSI(14) is currently nearing the overbought territory. If price can close around 7570 level, I'm planning to short it with profit target is somewhere around 7445, which is the previous strong support line.
Key Level to watch 7600. this all time high level has been tested few times this year and UK failed to break above this level. Now we are trading at 7550 level, my bet is we will see UK100 to come back down to 7450 then 7330 levels before the end of 2017. Patience Pays
FOREXCOM:UKXGBP This uptrend is a charm.
BULLISH CYPHER PATTERN Took a break from the long term analysis. Now looking at opportunities for the coming few weeks. The first one I'm looking at here is a bullish Cypher pattern which has already complete and we are well on our way to hit the first target of this type of pattern which is the 38.2% retracement at 7399 then the second target which is at 7472....
Short UK100 due to Pound strength and EMA's.
The Global Stock Market's (excluding US) Monthly RSI is Entering Overbought Territory. While not as extreme as VT, I would be careful about going long here in developed markets or emerging markets. For a while longer, I expect it will outperform the US but I think it will for in upcoming months. The ECB is planning (that may change if stocks or especially bonds...
As per the chart, now we have got four key levels. With UK100 failing to beak above 7600, we can now target 7460 and 7320. It is trading at 7544 as we speak. SL 7600 TP 1 7460 TP2 7320 The Levels have been well respected. Hopefully the patterns follow! Patience pays!
Take more buyers and make prepare to final BEARISH move !
I see that market structure has broken in a bearish direction and price has now returned to my supply zone. Now looking for a reversal signal like a doji or engulfing to further confirm my entry.