FTSE volatility

1 Mar 2018

UKX is looking to breach the Red Komo (cloud) on the Ichimoku. It hit the top resistance blue line and is now headed to the bottom support blue line around 7106. Could be a near term short play and the geo-political backdrop is reinforcing this (lots of bad Brexit news and retail sector suffering Toys R Us, Maplin have gone into administration and several companies including Foxtons have reported drops in profits). Medium term I'm expecting the volatility to continue in and around the range of the blue resistance and support lines.

1 Mar 2018

Not

Reminder to self when you post a chart at 3am try to get the number right! Hopefully you saw my blue line was 7166 not 7106 but either way target hit and profit taken.