FTSE 100 Medium Term Short: Divergence, BB, Missed Pivots

FX:UK100   FTSE 100 Englischer Leitindex
The FTSE 100 is trading near 6950, up more than 1200 points from the post-Brexit low of 5727.

Fundamentally, this is because of the sharp fall in Sterling.

However, technically, the FTSE 100 may be due for a correction.

It has relentlessly traded upwards, however:

1) There is strong resistance to be expected at 7000, a psychological round number.

2) There is divergence on the 4H chart at 6950.

3) The FTSE 100 has traded outside its 800-period BB on the 4H chart for more than 2 weeks.

4) There are multiple missed pivots , monthly and weekly, amidst the FTSE's post-Brexit rally.

This might suggest that we are due for a correction in the medium term, perhaps to the 6700 level.

If Sterling recovers, the correction may extend to 6300. However this is unlikely given a dovish BoE, quantitative easing and the market pricing in further interest rate cuts.
Kommentar: The correction to 6700 has almost happened. The next interim target is 6500, but GBP weakness is a risk for FTSE upside in the near term.
Stocks simply cannot be short until asset purchasing is stopped. Especially with how pro-easing the BoE is, this rally is to the f#c!ng moon
TanayUK TheNocturnalCapitalist
Haha I agree mate, fundamentally FTSE is a buy.

Just that technically, in the short/medium term, there might be a correction given the ridiculous pace of the rally upwards.
DE Deutsch
EN English
EN English (UK)
EN English (IN)
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Startseite Aktien-Screener Forex-Screener Krypto-Screener Wirtschaftskalender So funktioniert es! Chartmerkmale Preise Hausregeln Moderatoren Webseite & Brokerlösungen Widgets Stock Charting Bibliothek Schnellhilfe Feature-Anfrage Blog & Nachrichten FAQ - Häufige Fragen & Antworten Wiki Twitter
Profil Profileinstellungen Konto und Abrechnung Schnellhilfe Veröffentlichte Ideen Followers Ich folge Private Nachrichten Chat Abmelden