FTSE100 - bearish break from rising wedge pattern
FTSE's bearish break from the rising wedge pattern amid overbought conditions suggests a technical correction to weekly 5-MA of 6530 could be seen over the next few days.
On the other hand, an hourly closing above 6743 would put bearish view at risk, although bearish invalidation is seen only if prices see a day end closing above 6743.4. In such a case, the upper end of the rising wedge could be put to test.
On the other hand, an hourly closing above 6743 would put bearish view at risk, although bearish invalidation is seen only if prices see a day end closing above 6743.4. In such a case, the upper end of the rising wedge could be put to test.
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