Technical Analysis

FTSE Chart Evaluation –Weak Value Sequence off December Low

FTSE Technical Highlights:

FTSE bounce in danger with weak general value motion

Development-line resistance to assist assess upside

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FTSE bounce in danger with weak general value motion

The FTSE’s climb off of final month’s low hasn’t been as spectacular because the one seen within the U.S. markets, making the UK index a goal for sellers trying to relative power as an element. Value motion off the low isn’t displaying a lot indicators of upward momentum.

The widely overlapping value sequence (ascending wedge-like) inside the context of a downtrend suggests we might see a transfer again in the direction of the December low regardless of different international markets maybe holding up. Furthering alongside a bearish bias might be a break beneath the 1/17 low at 6799.

A maintain above the low from final week might be motive, although, to take care of a impartial short-term outlook because the development off the low stays intact. A pop greater from right here may have a trend-line from August in play together with current every day highs.

It can require a climb above these thresholds to provide life to a extra significant push greater in the direction of resistance across the 7200-line. For now, sitting tight, however there are technical signposts to look at as we transfer ahead from right here.

Take a look at this information for four concepts on learn how to Construct Confidence in Buying and selling.

FTSE Every day Chart (Weak-ish value motion)

FTSE daily chart, weak-ish price action

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—Written by Paul Robinson, Market Analyst

You may comply with Paul on Twitter at @PaulRobinsonFX

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