FTSE 250 market (FTSE:MCX) is really pulling its weight; in that it has been going upwards in the last several month, and the market bias remains bullish. From November 2020 until now, price has been making a series of high highs and higher lows.
The market has currently broken outside the upper Trendline, going
further northwards. At the same time, the RSI period 14 is almost above the
level 60, going towards the level 70. That shows a strong momentum in the market.
The outlook for FTSE 250 remains bright for the year 2021, and price is
expected to maintain an overall bullish bias, in spite of some occasional
bearish pulls it may experience along the way. The next targets are the
resistance levels at 23,000.00, 24000.00 and 25000.00.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Teach Yourself Technical Analysis: Teach yourself Technical analysis
Source: http://uk.advfn.com/newspaper/authors/azeez-mustapha
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