Potential Short Position - UKX (UK100)

3 Haz 2020

Good morning, from my previous analysis on UKX, I'm confident that the next move will be a retracement on the Fibonnacci. As labeled on the diagram, the price exceeded the resistance that was in place at 0% and continued to reach 27% (currently), due to buying pressure exhausting the price causing it spike which will, hopefully, result in price falling to 6237.6 (minimum). Once it has fallen to that price, the bearish chart should continue to steadily hit price 6169 (38.2%). However, if this turns out to be not the case, the chart will continue bullish until a new support has been formed.