In the daily chart of UK100, the yesterday’s candle has engulfed the day before’s candle and has made a bearish reversal candlestick pattern (Tweezers Top I guess! I’m not very good at names!)
Today’s candle has opened below the yesterday’s close which means we are facing a bearish momentum.
If price breaks the yellow support level at 7537.0 (the lower shadow of the yesterday’s candle) to the downside, we can look for entering a sell position in lower time frames like 1H.
I expect a big drop on UK100 to 7111 in the upcoming future.
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.