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FTSE 100 – Looking for Price Action Signals to Sell | Apr 15th
FTSE 100 – Looking for Price Action Sell Signals
Under a lot of pressure as of late, the FTSE 100 settled into a zone for the last month between 6675 and 6500 with two touches on the top and three on the bottom (last one today). I’m expecting this range to hold, so will look for price action signals to sell between 6670 and 6700, targeting the range low around 6500, and a potential break lower.
A daily close below 6500 opens up a lot of fresh downside, and will likely trigger technical stops, along with bringing in fresh sellers. Only a daily close above 6700 relieves the bulls for now.
Make sure to read my latest article Trading the False Break Strategy Part 2
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