FTSE100 - Next hurdle at 127.2% Fibo extension
- There seems to be no stopping for the FTSE100 index. Fresh demand/buying interest below 5-DMA underscores the fact that sellers just don’t have motivation to enter the markets.
- The index appears poised to test 6962 (127.2% Fibo extension of Feb 2011 low – Apr 2016 high – June low).
- However, note the money flow indicator is overbought now… so caution is advisable.
- Only a break below yesterday’s low of 6812 on day end closing basis would open doors for a technical correction.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.