FTSE 100 Index: Cloud Chart (CC) Rebound rally up by more than +1000 points, now at risk of consolidating towards 7589/7291 & 7236!
The Q4 and January rally in the FTSE100 index is now getting closer to a major resistance level of 7903 zone" There is downside consolidation risk back down to the 7589 TL of the CC, as well as 7291 the STD line and the front end CC support zone at 7236 if this resistance level holds at 7903!
Expect February seasonal weakness to drive part of the downside consolidation! But so far it been a great few with a CC swing trade.
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