FTSE has hit multi year trendline going back to the PP starting 2006 which has multiple touch points.
Note the negative divergence on MACD & Momentum and the huge RSI overbought position!
Please apply due diligence if trading.
I have seen a number of FTSE long term charts, here are my own thoughts:
2000-2009 completed a 9 year FLAT, supercycle waves (III) & (IV), supercycle wave (V) has completed an ENDING DIAGONAL in Mid 2015 and is now in the B wave of a final FLAT which should complete in the 7300-7400 area with a following C wave taking FTSE back to 5600 area. The green trend line...