Long
How high can it go?
This British Index just broke out of a consolidation phase inside a long term triangle on the daily timeframe with what seems to be a retest underway. Scaling down to the 4 hour timeframe we see a bullish pennant which is a trend continuation pattern and a break of this structure could push the FTSE higher. Also with risk on sentiment in the market about the US$1.9 Trillion stimulus signed by President Biden, not only will the US benefit from this package but also the global economy as a whole.
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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.