FTSE Technical Outlook – Promoting May Quickly Carry Lengthy-term Assist into Play
FTSE 100 Technical Highlights:
- FTSE continues to be a worldwide laggard, seems headed decrease
- 2016 trend-line may quickly come into play on additional weak spot
For our analysts intermediate-term elementary and technical view on the FTSE and different main indices, take a look at the Q4 Global Equity Markets Forecast.
FTSE continues to be a worldwide laggard, seems headed decrease
The FTSE is rolling down in direction of its worst ranges since October and August, when the index was heading in direction of finishing a head-and-shoulders topping sample. The H&S didn’t set off, however since bouncing off the would-be neckline of the sample the FTSE hasn’t executed itself a lot good in repairing its general technical posturing.
The almost two-month lengthy grind of a rally because the October low prompt that it may break down once more as tepid upward momentum was an indication of weak participation. The current breakdown, lasting solely a few weeks, has recent multi-month lows within the scope of a near-term outlook.