UK100 FTSE100 - ABC Correction Uderway?
Hello Guys,
The yearly Candle is slightly Bullish - but we did not see a break on a closing base of the crucial 7900 area -> ATH.
A Retest of this area would constitute a Bullish setup - which I would be happy to be part of after the last rallye.
Q2 Close - Doji -> might see a consolidation phase from here with a sideways to down mentality - considering the recent gains the bulls had.
The monthly Bias is Bearish. A Bearish Engulfing Pattern (Although a small one) has been formed. The Stochastic confirms a Bearish Bias - not totally contradicting the higher Timeframes! So Bulls be prepared for some drop… Just an idea from my side. A Double Top at 8400 would be a strong sign of Bears being back.
-> For the bulls 7900 has to hold - for the bears 8400.
Thats all for now…
Thanks for reading
The yearly Candle is slightly Bullish - but we did not see a break on a closing base of the crucial 7900 area -> ATH.
A Retest of this area would constitute a Bullish setup - which I would be happy to be part of after the last rallye.
Q2 Close - Doji -> might see a consolidation phase from here with a sideways to down mentality - considering the recent gains the bulls had.
The monthly Bias is Bearish. A Bearish Engulfing Pattern (Although a small one) has been formed. The Stochastic confirms a Bearish Bias - not totally contradicting the higher Timeframes! So Bulls be prepared for some drop… Just an idea from my side. A Double Top at 8400 would be a strong sign of Bears being back.
-> For the bulls 7900 has to hold - for the bears 8400.
Thats all for now…
Thanks for reading
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