After the monthly 13% growth the FTSE 100 index shows the readiness for corrective decrease.
A large number of red daily candlesticks on the chart reveals the inability of buyers to support the stable growth of the market. Besides, the "bearish engulfing" has appeared on the local maximum, and it confirms the downward reversal of the FTSE 100.
The “bears” can consider the Fibonacci levels of 23,6% (point 7450) and 38,2% (point 7310) as the objectives.
This content is for informational purposes only and is not intended to be investing advice.
