In 2007 the FTSE hit a high before a steep decline, a level we are approaching around 6740. A level which is also heavily defended by the 100 MA.
It would take a good amount of positive sentiment to breach this level - will we get this during an uncertain pandemic ?
If sentiment in the US markets declines, then we could see a significant pull back across all indicies.
I am unsure how this will play out, but I am leaning towards a bearish few weeks in the markets.
It would take a good amount of positive sentiment to breach this level - will we get this during an uncertain pandemic ?
If sentiment in the US markets declines, then we could see a significant pull back across all indicies.
I am unsure how this will play out, but I am leaning towards a bearish few weeks in the markets.
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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.