FTSE 100 Technical Analysis: Daily Chart
Momentum:
MACD: Positive
RSI: Neutral
Stochastic: Sell signal, in overbought territory
Daily Price Action Trend: Neutral
Last relevant high: 6,216.1
Last relevant low: 5,845.5
Comment:
The FTSE slightly lower yesterday, technically we had an unusual situation where the market’s range bettered and broke the previous day’s session. This simply highlights uncertainty in the market as oil prices rallied were balanced out by caution ahead of the ECB announcement Thursday.
From a technical point of view we have little change from yesterday’s blog, a sell pattern will be formed today if: 6,125.6 is broken without 6,216.1 being bettered.
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