Technical analysis for trading/investing
Technical analysis for trading/investing
Equities | Trend notes for 2021 | UK FTSE 100 Index
The price is within 3rd bullish wave on the weekly and the daily charts. The first targets of the 3rd bullish daily wave is at 1.272 FIB extension around 6700, and it was almost reached. The second is at 1.618 FIB extension around 7050.
The first target of the 3rd bullish weekly wave is at 1.272 FIB extension around 7650.
The support between 6250 – 6350 should be watched for rejection and resumption of the bullish weekly, daily trend.
Monthly chart:
Weekly chart:
Daily chart:
Looking at the monthly chart, we can see that the price broke above ascending triangle…
The price is approaching key resistance between 117.70 – 118.60, rejection of the resistance will…
After the initial plunge during the COV19 pandemic, the price bounced from the support zone…
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