📌 UK Equities remain vulnerable with Brexit & Covid in play.
(Similar representation for those tracking the moves in S&P, NQ, DJIA and etc...)
(1) Firstly challenge the view that Rishi's stimulus produces an immediate effect and anything more than a spring mattress; the furlough scheme is incredibly expensive and weighing heavy despite being totally...
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....
The FTSE100 (UK Index) broke below support around +/-5970. This level now becomes resistance. Rallies into this zone can be used as a shorting opportunity. However, this could be a false breakout, and a close above resistance will invalidate this setup.
FTSE100 -UKX - What can we expect to happen?
I am strictly basing this analysis I share with you today on technicals only with additional aspects of trading psychology.
We have a wedge formation, a break to either direction is key.
We also have the Fibonacci Retracement to keep in mind.
Support and resistance areas combined with key...
Traders, FTSE100 has taken a divergence from snp500 and fell. This has been showing bearish signs for some time now. So I am expecting it to fall further. Lets see what opportunities we have on it in this multi timeframe analysis and forecast.
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