January 24, 2017

FTSE 100, UK Index Technical analysis

  • FTSE 100 is trying to stay above the resistance zone Broken recently. Now FTSE Bulls are hoping that the previous resistance zone(7080 - 7100) may act as support
  • Weekly candlestick suggests Bears engulfing previous bullish candle. Further weakness only if the above mentioned zone is broken and closed below.
  • Current weakness is seen after negative divergence as shown in last chart with Price and MACD.

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