[Pending] UK100 is Bearish - We look to Sell at 5867
▪️ Broken out of the channel formation to the downside.
▪️ We have a 38.2% Fibonacci pullback level of 5872 from 6209 to 5664.
▪️ Negative overnight flows lead to an expectation of a weaker open this morning.
▪️ Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 5867, resulting in improved risk/reward.
▪️ Expect trading to remain mixed and volatile.
Stop: 5917
Target1: 5637
Target2: 5530
▪️ Broken out of the channel formation to the downside.
▪️ We have a 38.2% Fibonacci pullback level of 5872 from 6209 to 5664.
▪️ Negative overnight flows lead to an expectation of a weaker open this morning.
▪️ Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 5867, resulting in improved risk/reward.
▪️ Expect trading to remain mixed and volatile.
Stop: 5917
Target1: 5637
Target2: 5530
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Live Youtube - youtube.com/@SignalCentre/streams
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.