Long FTSE BUT limited upside
Based on the 1H trendline connecting from 11 Feb 2016 FTSE is long at 6111. The hurdle will be 6209, if FTSE can get passed this level it will quickly retrace to 6242 - 6265 area.
The 5M ichimoku is a BUY and the price is currently within the Turbulence Zone, whilst writing this the Kumo Twist has occured and is positive, based on the 5m Ichimoku chart it may retrace back to 6113. A close above 6120 (which is also Kijun Sen resistance on 15M chart) by the end of US session will take the FTSE to 6141 & a close above 6142 will take the FTSE to 6188 .
6154 is a important area to watch as its providing resistance by 60m Kijun Sen & 4H Tieken Sen chart.
Considering that the MACD is oversold and twisted positive and RSI shows positive diveregence on 1H chart, I am long for a retracement to 6145 and 6213 by Friday.
However, as long as FTSE do not break 6500 a decline towards 6025 & 6880 is seems likely.
Don't forget to click like.
Thank you
The 5M ichimoku is a BUY and the price is currently within the Turbulence Zone, whilst writing this the Kumo Twist has occured and is positive, based on the 5m Ichimoku chart it may retrace back to 6113. A close above 6120 (which is also Kijun Sen resistance on 15M chart) by the end of US session will take the FTSE to 6141 & a close above 6142 will take the FTSE to 6188 .
6154 is a important area to watch as its providing resistance by 60m Kijun Sen & 4H Tieken Sen chart.
Considering that the MACD is oversold and twisted positive and RSI shows positive diveregence on 1H chart, I am long for a retracement to 6145 and 6213 by Friday.
However, as long as FTSE do not break 6500 a decline towards 6025 & 6880 is seems likely.
Don't forget to click like.
Thank you