Markets – Macro – Technicals

$FTSE: Key Time

The FTSE is dropping hard today on the news of surprise new elections coming in June. The timing is interesting. Earlier this year $FTSE made new all time highs. Remember when Brexit was supposedly bad? Central bank intervention by the BOE aside this remains an open debate.

What is not a debate is that the highs recently were rejected and the FTSE broke the early 2016 low trend line. With today’s move the FTSE also fell below the 2007 trend line. It needs to recapture this trend line or face a much meaningful corrective fib retrace:

All content is provided as information only and should not be taken as investment or trading advice. Any investments, trades, and/or speculations made in light of the ideas, opinions, and/or forecasts, expressed or implied herein, are committed at your own risk, financial or otherwise. For further details please refer to the disclaimer.


Tagged as: ,


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

The material on this website is provided for informational purposes only, as of the date hereof, and is subject to change without notice and does not constitute investment advice.
Home | About | Disclaimer | Contact
Copyright © 2013-2017 NorthmanTrader
The materials on this website may not be suitable for all investors and are not intended to be an offer, or the solicitation of any offer, to buy or sell any securities.