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).
This content is for informational purposes only and is not intended to be investing advice.
