FTSE 100 price (FTSE:UKX) has currently generated a short-term bearish signal, and it is not advisable to go long at the moment. This is because the bearishness may continue longer from here.
The market is currently moving below the EMA 21, while William’s % Range
period 20 is already in the oversold region. Yes that is a clear bearish
signal. Because the market is looking oversold, there could be some attempts
along the way, which are expected to be transitory, because the market is
expected to become weaker and weaker.
The outlook on UKX is bearish for this year and price could eventually
reach the accumulation territories at 7200.00, 7000.00, and 6800.00 this year.
Market Analyst, Trading Signals Provider and Coach
Teach Yourself Technical Analysis: https://www.advfnbooks.com/books/techanalysis/index.html
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