FTSE100 DOUBLE TOP PATTERN: ANALYSISFTSE100 HAS REJECTED THE KEY RESISTANCE AND WITH RETAIL TRADERS NET LONG WE COULD
SEE THIS MARKET MOVE LOWER. CURRENTLY PRICE LOOKS TO BE FORMING A DOUBLE TOP PATTERN
THE DAILY CHART. IF THIS PATTERN COMPLETES WE EXPECT THE NECKLINE TO ACT AS RESISTANCE
WITH TARGETS BEEING THE KEY WEEKLY TRENDLINE.
Ftse100
FTSE100 Short !The price has returned to fall with the crossing of the dynamic resistance identified by the EMA 200 and 20 weekly at about 7000 points, and then immediately rejected by 150 points on the downside. The level 7000 is a crucial barrier for the direction in the short term: until it will remain below, the most plausible target is the support in the 6400 area; an upside break would lead to the cancellation of the current trend, bearish for 7 months. With an unstable government, low approval for May and the brexit back on the roadmap, the most probable road for FTSE 100 is to continue this downtrend at least up to the support just mentioned at 6400 points. The first target is 50% of the Fibonacci retracement at 6700.
When will the FTSE 100 be in a Bear market?Looking for when the FTSE 100 may enter a Bear Market. Despite the media saying a 20% drop is a signal for a Bear market, the real number is 16%.
Taking a measurement of 16% from the previous high in the summer of 2018 and a 16% drop comes to around 6442.
If price drops below this mark, (red dash line) this could signal the Bears are in full control.
Taking a measurement (purple line)from how far the FTSE dropped in the last recession and price could move to around the 4800 mark.
FTSE 100...Next Buy LevelThis weeks recovery rally is spluttering, and sentiment remains bearish, FTSE 100 is being held down by the downtrend line and Bulls are getting tired, next buy level is 2775, watch and wait, I would guess that we will hit this level by the end of the week or Monday, I think this will be the low and we will see stocks pick up over the next few months in line with my last post on the FTSE index. Don't take my word for it, trade your own plan.
FTSE100 DOWNSIDE CONTINUATIONFTSE looks set for further downside technically despite the current bid we are seeing due to PM May currently being supported by MP's. However, the actual vote does not take place
until this evening and could be a very different story by 5pm GMT. If we see bearish price action at the resistance we could look for further downside to come in this market.
FTSE 100 (UKX) Monthly Timeframe BuyThe FTSE100 index is approaching a critical 2.6 retracement level of the previous uptrend, and it could be good time to buy. However, with the Brexit news and Theresa May woes, just hold your horses for a bit. The index is still largely in a sell-off fueled by the lack of confidence surrounding the Brexit deal and seemingly the vote to be held tomorrow. The trendline shows a perfect uptrend with around 7 touches, so maybe the trend is about to end. Who knows.
SP500, Similar fractals, Is this the comming financial crisis?
Hi folks, this is my first time posting an idea/"short" analysis publicly, hope you'll enjoy it
This is the chart from SP500, I mirrored 2007 financial crisis structure, unedited, raw and pure, pasted it below our chart, checked the fractals/similarity, and it's deadly alike.
With the somewhat positive sentiment from OPEC and 90 Days truce between president Xi Jinping and Donald Trump we have something that might bring the SP500 back to "normal" comming weeks, months.
Once the truce resolves, I bet we'll get into a "fear" phase... Nothing is new in the stock market... said J Livermore... and I concur.
Not sure of how it was back in 2007, but perhaps some of you older folks remember what caused the "back to normal" phase... and we can compare...
Stay safe or play it safely folks.
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Possible Bearish UK MarketLast post: May 17th. See chart .
Review: Price was trying to make new all-time highs.
Update: The market has reversed since then and has now broken below a major support area.
Conclusion: We need to see if price will remain below the support area then we can look for shorting opportunities.
Any comments or questions, do not hesitate to leave them below. Give us the thumbs up if you share our sentiments!
Sublime Trading
UK banks outperform FTSE 100 before stress test resultsUK banks outperformed the benchmark for UK shares during the rout in global stock markets that began in October. UK bank share prices are down over the past two months, but by less than the FTSE 100 index.
Positive expectations for stress test results have played a role in limiting the damage to UK bank shares.