In 2007 the FTSE hit a high before a steep decline, a level we are approaching around 6740. A level which is also heavily defended by the 100 MA.
It would take a good amount of positive sentiment to breach this level - will we get this during an uncertain pandemic ?
If sentiment in the US markets declines, then we could see a significant pull back across all indicies.
I am unsure how this will play out, but I am leaning towards a bearish few weeks in the markets.
It would take a good amount of positive sentiment to breach this level - will we get this during an uncertain pandemic ?
If sentiment in the US markets declines, then we could see a significant pull back across all indicies.
I am unsure how this will play out, but I am leaning towards a bearish few weeks in the markets.