Since price action is below the cloud, the overall picture remain negative. with short term rallies possible to the bottom end cloud chart resistance zone!
Tuesday, 3 April 2018
FTSE100: Remain in trouble as its fighting for support!
FTSE100: Remain in trouble as its fighting for support at old cloud chart support levels! Bottom of the cloud is a key resistance zone.
Since price action is below the cloud, the overall picture remain negative. with short term rallies possible to the bottom end cloud chart resistance zone!
The outlook for the weekly cloud chart is overall negative. So far there are multiple downside support targets that the FTSE100 index can drop down too. We need to see support come in otherwise this downtrend that is in place will accelerate towards the 6688 old cloud chart support zone! That's the downside risk in the current correction!
Since price action is below the cloud, the overall picture remain negative. with short term rallies possible to the bottom end cloud chart resistance zone!
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