Today's focus: UK100 Index
Pattern – Continuation Pattern
Support – 7629 - 7588
Resistance – 7720, 7916
Thanks for checking out today's update. Today, we have run over UK100, breaking down the overall price picture, levels, and patterns and incorporating moving average and RSI into the analysis.
The primary focus of today's look at the UK100 is the current uptrend, forming a new higher low in today's session. This continues to push the case for a new leg high from buyers. Resistance at 7720 is the first big test, and if we can see a new move up, this level needs to be cleared to break the current range.
If today's fightback from 7629 support fails, we could see a move that may try to retest the range base. We will be watching Price and mainly Buyers over the next several sessions to see if we get a breakout.
Good trading.
Pattern – Continuation Pattern
Support – 7629 - 7588
Resistance – 7720, 7916
Thanks for checking out today's update. Today, we have run over UK100, breaking down the overall price picture, levels, and patterns and incorporating moving average and RSI into the analysis.
The primary focus of today's look at the UK100 is the current uptrend, forming a new higher low in today's session. This continues to push the case for a new leg high from buyers. Resistance at 7720 is the first big test, and if we can see a new move up, this level needs to be cleared to break the current range.
If today's fightback from 7629 support fails, we could see a move that may try to retest the range base. We will be watching Price and mainly Buyers over the next several sessions to see if we get a breakout.
Good trading.