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Antonio_trader

FTSE 100, falling wedge

UK 100 (OANDA:UK100GBP)  
Antonio_trader  
OANDA:UK100GBP   UK 100
Trend Analysis Chart Patterns Wave Analysis ftse100 triplethreecorrection Fibonacci Retracement
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trendanalysis chartpattern waveanalysis ftse100 triplethreecorrection fibonacciretracement
FTSE100 continues to rage within the falling channel, looking more like a wedge with lower touches now. Today testing the resistance again after bouncing of 38.2% retracement, 200 SMA and resistance level in the way. FTSE looks bullish on dollar weakness. Though Brexit worries with David Davis resigning could spell for a weak pound later. Break above the resistance would signal a long or you can enter earlier if your risk permits. For Elliott wave a break above the previous X wave will negate the 'triple three' wave pattern.
Happy Trading!
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