UK100 sell

Is the FTSE 100's bounce potential exhausted?

22 march 2022 106
Ivan__Titov
Ivan__Titov

Listed among the best MarketCheese authors
3rd in the segment "Indices"
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From the minimum of 7 March, the FTSE 100 index made an upward leap by 10%. More than 70% of the fall from the historical maximum of 7694.6 was compensated.


A "hanging man" pattern has formed in the chart which is a reversal signal. If today's daily candlestick confirms the movement towards decline, sellers can direct FTSE 100 to the Fibonacci retracement levels of 23.6% (7280) and 38.2% (7180).

Ivan__Titov
Ivan__Titov

Listed among the best MarketCheese authors
3rd in the segment "Indices"
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