FTSE - Fading gains, more downside expected.

15 במאי 2020

[Sell Limit] UK100 is Bearish - We look to Sell at 5860

▪️ Overnight price action has drifted lower and remains pressured by the medium term bearish bias.
▪️ Levels close to the 61.8% pullback level of 6000 found sellers.
▪️ Broken out of the channel formation to the downside.
▪️ We look for a re-test of the upward trending resistance.
▪️ Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 5860, resulting in improved risk/reward.
▪️ Expect trading to remain mixed and volatile.

Stop: 5890
Target1: 5665
Target2: 5630