FTSE 100 SHORT @ 7062
Reasons in order of significance:-
Retest of major down trendline
7062 is strong resistance line ( 0.38 fib)
sloping diagonal trendline resistance
completion of 4th corrective wave in a potential 5 wave sequence.
Divergence on RSI (1HR) should materialise at 7062
I expect an ABC correction, difficult to say how low the correction will go but I expect it to take place for at least 3 week, I would wait for capitulation before going long.
Fundamentals
China , Germany, Japan and UK economies all weakening/contracting, USA GDP data released on Weds 6th Feb.
Retest of major down trendline
7062 is strong resistance line ( 0.38 fib)
sloping diagonal trendline resistance
completion of 4th corrective wave in a potential 5 wave sequence.
Divergence on RSI (1HR) should materialise at 7062
I expect an ABC correction, difficult to say how low the correction will go but I expect it to take place for at least 3 week, I would wait for capitulation before going long.
Fundamentals
China , Germany, Japan and UK economies all weakening/contracting, USA GDP data released on Weds 6th Feb.
Nota
Shame, looks like it will reverse at 7222, probably tomorrow.
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.