FTSE100: Weekly cloud chart outlook.

FTSE100: Weekly cloud chart outlook.

Critical week ahead for the FTSE 100 index as it is fighting for support at the bottom end cloud chart support zone. (Cloud span B) Critical support zone at : 7380. Rebound potential here if support holds, if not, the further downside risk towards next old cloud chart support level of 7295.
Note that we have had both a MACD and a cloud chart sell signal a while back.

The weekly cloud indicate where the weekly cloud chart support zone is, and that there is downside risk towards this level, just below the 7200 zone.