UK100 has bounced off its support at 6675 (50% Fibonacci retracement , horizontal swing low support) where it could potentially rise further to its resistance at 7152 (100% Fibonacci extension , 38.2% Fibonacci retracement , horizontal swing high resistance). Stochastic (55,5,3) has bounced off its support at 8.7% where further rise could occur.
UK100 is approaching our first resistance at 6915 (100% fibonacci extension, 50% fibonacci retracement, horizontal overlap resistance) and a strong drop might occur below this level pushing price down to our major support at 6685 (50% fibonacci retracement, horizontal swing low support).
Stochastic (34,5,3) is also approaching resistance and we might see a ...
UK100 is approaching its support at 6675 (50% Fibonacci retracement , horizontal swing low support) where it could potentially bounce to its resistance at 7152 (100% Fibonacci extension , 38.2% Fibonacci retracement , horizontal swing high resistance). Stochastic (55,5,3) is approaching its support at 8.7% where a corresponding bounce could occur.
FTSE looks set for further downside technically despite the current bid we are seeing due to PM May currently being supported by MP's. However, the actual vote does not take place
until this evening and could be a very different story by 5pm GMT. If we see bearish price action at the resistance we could look for further downside to come in this market.
UK100 is approaching our first support at 6685 (50% fibonacci retracement, 61.8% fibonacci extension, horizontal swing low support, descending support line) and a strong bounce might occur above this level pushing price up to our major resistance at 5949 (100% fibonacci extension, 50% fibonacci retracement, horizontal pullback resistance).
Stochastic (89,5,3) is ...
UK100 has bounced off its support at 6675 (50% Fibonacci retracement , horizontal swing low support) where it could potentially rise further to its resistance at 7152 (100% Fibonacci extension , 38.2% Fibonacci retracement , horizontal swing high resistance). Stochastic (55,5,3) has bounced off its support at 8.7% where further rise could occur.
UK100 is approaching our first support at 6920 (61.8% Fibonacci extension, 78.6% Fibonacci retracemen, horizontal swing low support) and a strong drop might occur below this level pushing price up to our major resistance at 7205 (100% Fibonacci extension, 38.2%, 50% Fibonacci retracement, Horizontal overlap resistance).
Stochastic (34,5,3) is also approaching ...
UK100 is approaching its resistance at 6865 (61.8% Fibonacci extension, 23.6% & 38.2% Fibonacci retracement, horizontal overlap resistance) where it could potentially fall to its support at 6717 (horizontal swing low support).
Ichimoku cloud also shows signs of bearish pressure that contributes to our bearish bias.
If it close bearish this week, more slide to come
Structure wise, pressure is above price.
For it to go up, it needs alot of strength
Disclaimer:
The information contained in this presentation is solely for educational purposes and does not constitute investment advice. We may or We may not take the trade.
The risk of trading in securities markets can be ...
UK100 bounced off its support at 6860 (23.6% Fibonacci retracement , horizontal swing low support) where it could potentially rise further to its resistance at 7193 (100% Fibonacci extension , 38.2% Fibonacci retracement , horizontal swing high resistance). Stochastic (55,5,3) bounced off its support at 8.7% where a further rise could occur.
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