FTSE (UK100)
BIAS: BULLISH
The FTSE(UK100) still ranging between 8400 and 8000... Break range and expect a big move (9K or retest 7800).
That rejection of 8100 makes me bullish bias X 2
If bias was to change
A solid push and resistance found around 8100-8000 would be expected.
Unless specifically timed with a low chance of alteration by external forces, anticipating the exact timing of events is unrealistic.
The FTSE(UK100) still ranging between 8400 and 8000... Break range and expect a big move (9K or retest 7800).
That rejection of 8100 makes me bullish bias X 2
If bias was to change
A solid push and resistance found around 8100-8000 would be expected.
Unless specifically timed with a low chance of alteration by external forces, anticipating the exact timing of events is unrealistic.
Trade active
FTSE (UK100) broken out of range... Bias still bullish.
Unless specifically timed with a low chance of alteration by external forces, anticipating the exact timing of events is unrealistic.
Note
What I’m watching:
If we get a retracement, I’m looking for support around the 8600-8550 zone. If buyers are there, it could push the index much higher.
A bounce off this support would make sense in this bullish trend, and we could start eyeing the 8800-9000 range next.
Bullish Continuation:
If the support holds and we get a strong reaction from buyers, expect price to push higher, with 8800 - 9000 as next targets.
Bearish Pullback:
If we break below 8600 and find resistance around that area, there’s a chance we could see a deeper pullback, but I’m not expecting anything drastic unless external factors play a part.
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Related publications
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.