FTSE-100 : SELLERS TAKE CONTROL
- The market is trading above a bullish trendline since February-2024 ; the long-term trend is then bullish.
- However, recently the upcoming general election has risen a lot of uncertainty in the UK.
And with such a blurry political outlook, many investors have chosen to readjust their portfolio's exposure, which led to a pull back in prices.
This pull-back led the market back to its mid-term bullish trend line for a fifth impact.
The RSI indicator has already broken-out its own bullish-trend line, confirming that sellers are now in control.
Both moving averages have registered a bearish cross and reversal, which also supports the case of a bearish continuation.
- The anticipated bearish break-out registered by the RSI, combined with the current political uncertainty, tends to allow us to expect the bullish trend to be invalidated soon.
We expect the market to remain volatile on the short-term basis, while next support levels can be located around 8,075pts, 4,945pts and 7,820pts by extension.
Pierre Veyret, Technical Analyst at ActivTrades.
The information provided does not constitute investment research. The material has no been prepared in accordance with the legal requirements designed to promote the independence of investment research and such is to be considered to be a marketing communication.
All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information.
Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acing on the information provided does so at their own risk.
- However, recently the upcoming general election has risen a lot of uncertainty in the UK.
And with such a blurry political outlook, many investors have chosen to readjust their portfolio's exposure, which led to a pull back in prices.
This pull-back led the market back to its mid-term bullish trend line for a fifth impact.
The RSI indicator has already broken-out its own bullish-trend line, confirming that sellers are now in control.
Both moving averages have registered a bearish cross and reversal, which also supports the case of a bearish continuation.
- The anticipated bearish break-out registered by the RSI, combined with the current political uncertainty, tends to allow us to expect the bullish trend to be invalidated soon.
We expect the market to remain volatile on the short-term basis, while next support levels can be located around 8,075pts, 4,945pts and 7,820pts by extension.
Pierre Veyret, Technical Analyst at ActivTrades.
The information provided does not constitute investment research. The material has no been prepared in accordance with the legal requirements designed to promote the independence of investment research and such is to be considered to be a marketing communication.
All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information.
Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acing on the information provided does so at their own risk.
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