With everything taken into consideration :
1. Highly leveraged debt by UK companies - which seems unlikely to be repaid , with the minimal cashflows at the moment
2. COVID19 lockdown removal will not play as optimistically as MPs expected to play
3. the new 14day lockdown will also add to the stress that the UK Economy is dealing with
4. Protests which are happening at the moment , will result for sure in many new cases of Corona virus and additional damage to the economy and lockdown release
5. Growing Tensions with China , they might result in Tariffs which the UK cannot afford at this time
So with all the above fundamental confirmation
As well as a typical Eliott Wave correction move A-B-C - we are seeing wave B starting to lose it's steam and the potential
Wave C to the downside forming - Expected Downturn by the end of October
Also the Fibbonacci level of 0.618
Hit me up on instagram : nikolaypetrov__
1. Highly leveraged debt by UK companies - which seems unlikely to be repaid , with the minimal cashflows at the moment
2. COVID19 lockdown removal will not play as optimistically as MPs expected to play
3. the new 14day lockdown will also add to the stress that the UK Economy is dealing with
4. Protests which are happening at the moment , will result for sure in many new cases of Corona virus and additional damage to the economy and lockdown release
5. Growing Tensions with China , they might result in Tariffs which the UK cannot afford at this time
So with all the above fundamental confirmation
As well as a typical Eliott Wave correction move A-B-C - we are seeing wave B starting to lose it's steam and the potential
Wave C to the downside forming - Expected Downturn by the end of October
Also the Fibbonacci level of 0.618
Hit me up on instagram : nikolaypetrov__