Thursday 26 April 2018

FTSE100: Fighting cloud chart resistance at 7430!

FTSE100 index fighting resistance at top end of the cloud chart resistance zone: 7430! Need to see a breakout past this level, if not then downside risk increases back down to bottom cloud chart support zone!

We had a nice rally since rebounding from old cloud chart support lows, but now is crunch time at the top end cloud chart resistance!

The weekly chart indicate that the FTSE100 is stuck at resistance at the top end of the weekly chart! Need to see a breakout past cloud chart resistance. If not, then downside risk remain in place towards the bottom cloud support zone!

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