1-hr FTSE100: Traders are Selling Off Their UK Stocks
The FTSE100 index remains firmly in a downtrend, highlighted by several Death Cross patterns appearing since last week. This bearish signal, where the 20-period moving average dips below the 60-period moving average, indicates strong selling pressure and an overall negative market sentiment. However, the current price level is relatively low, which may tempt short-term buyers seeking potential bargains. If this buying interest materializes, it could trigger a pullback, lifting the index to 8,064 (23% Fibonacci retracement) or potentially even higher to 8,107 (38% Fibonacci level). These elevated resistance levels could then serve as optimal entry points for traders looking to rejoin the broader downtrend through new short positions.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.