UK100 FTSE100 - ABC Correction Uderway?
Hello Guys,
The yearly Candle is slightly Bullish - but we did not see a break on a closing base of the crucial 7900 area -> ATH.
A Retest of this area would constitute a Bullish setup - which I would be happy to be part of after the last rallye.
Q2 Close - Doji -> might see a consolidation phase from here with a sideways to down mentality - considering the recent gains the bulls had.
The monthly Bias is Bearish. A Bearish Engulfing Pattern (Although a small one) has been formed. The Stochastic confirms a Bearish Bias - not totally contradicting the higher Timeframes! So Bulls be prepared for some drop… Just an idea from my side. A Double Top at 8400 would be a strong sign of Bears being back.
-> For the bulls 7900 has to hold - for the bears 8400.
Thats all for now…
Thanks for reading
The yearly Candle is slightly Bullish - but we did not see a break on a closing base of the crucial 7900 area -> ATH.
A Retest of this area would constitute a Bullish setup - which I would be happy to be part of after the last rallye.
Q2 Close - Doji -> might see a consolidation phase from here with a sideways to down mentality - considering the recent gains the bulls had.
The monthly Bias is Bearish. A Bearish Engulfing Pattern (Although a small one) has been formed. The Stochastic confirms a Bearish Bias - not totally contradicting the higher Timeframes! So Bulls be prepared for some drop… Just an idea from my side. A Double Top at 8400 would be a strong sign of Bears being back.
-> For the bulls 7900 has to hold - for the bears 8400.
Thats all for now…
Thanks for reading
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.