UK Market - Impulse move in the making.
Two points of view are provided in the chart as two scenarios are both likely.
Upside has a target of £10,000, Pivot level at £6,000 and downside target of £4,500.
The wedge, price stalling and curvature of the price action up to the wedge, tells that there is a possibility for a rejection from a recovering bull market and into a financial recession. Fundamental data will appropriately explain and show which direction the FTSE takes.
Personally neutral on this, both are likely in my playbook - however I think there's more reason for recovery and continuation upwards because of geopolitics more than technical analysis.
Upside has a target of £10,000, Pivot level at £6,000 and downside target of £4,500.
The wedge, price stalling and curvature of the price action up to the wedge, tells that there is a possibility for a rejection from a recovering bull market and into a financial recession. Fundamental data will appropriately explain and show which direction the FTSE takes.
Personally neutral on this, both are likely in my playbook - however I think there's more reason for recovery and continuation upwards because of geopolitics more than technical analysis.
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