Hello,
UK100 has encountered resistance at the 1M pivot point, leading to further downside movement. Currently, the price is approaching a strong support level at 7942.9445, which has historically held and may present a challenge. The zone between 7954.7045 and 7942.9445 is a potential reversal area, where the price could turn back upward. However, if it establishes itself below this range, further downside could ensue. Confidence is high that this could mark the definitive low before an upward trend resumes, though the opposite scenario cannot be ruled out. Time and confirmation will provide clarity.
No Nonsense. Just Really Good Market Insights. Leave a Boost
TradeWithTheTrend3344
UK100 has encountered resistance at the 1M pivot point, leading to further downside movement. Currently, the price is approaching a strong support level at 7942.9445, which has historically held and may present a challenge. The zone between 7954.7045 and 7942.9445 is a potential reversal area, where the price could turn back upward. However, if it establishes itself below this range, further downside could ensue. Confidence is high that this could mark the definitive low before an upward trend resumes, though the opposite scenario cannot be ruled out. Time and confirmation will provide clarity.No Nonsense. Just Really Good Market Insights. Leave a Boost
TradeWithTheTrend3344
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.