FTSE 100 Potentially topped. Strong pull-back incoming.

30 Ağu

Earlier this month (August 08, see chart below), we got the most optimal buy entry on FTSE 100 (UK100) that quickly hit the 8300 short-term Target, even earlier than we expected:

The price is now above the top (Lower Highs trend-line) of the Bearish Megaphone, a symmetrical pattern to May - August 2023. We expect this rally to top soon and then pull-back the same way to the symmetrical Support Zone, below the 1D MA50 (blue trend-line).

Shorters can target its top at 8150 and then buy for 8500.

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