Wij gebruiken een aantal cookies om u de best mogelijke browserervaring te bieden. Door deze website te blijven gebruiken, gaat u akkoord met ons gebruik van cookies. U kunt hier meer lezen over ons cookiebeleid of op de link klikken onderaan iedere pagina van onze website.
FTSE choppiness continues
The FTSE has been relatively directionless this week as we lead into the European Central Bank meeting later today. The four-hour chart provides a bullish picture of price action which has been consolidating within an uptrend, with downside limited to the 6100 area (61.8% retracement).
The key to understanding whether any downside is indicative of a possible market top would be a closed candle below 6032. Until that happens, any short-term selling is likely to be bought into. The near-term level of 6100 will be crucial to the day’s sentiment, given a closed hourly candle below that would look like a head and shoulder break.
However, unless we see a break and closed candle below 6032, the uptrend remains intact, with 6220, 6270 and 6324 the next major resistance levels.