FTSE 100 Reacts Off of Pivot Level on H1 Chart
The below is the hourly chart of the UK 100. The index is reacting off of the R1 pivot level. We note that there is a bearish divergence between price and the stochastic (red trendlines). A cross of the green 5-hour EMA below the orange 10-hour EMA will confirm the bearishness and if the EMAs start showing angle and separation it will most likely be a signal that the downwards momentum is increasing. We continue to monitor.
Past performance is not an indicator of future results.
CHART SOURCE: FXCM MARKETSCOPE 2.0
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