UK100 | Where Next For This Index?
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The UK100 has been slammed on poor growth warnings.
The budget released by the current Labour Govt gave reason for this, as well as some poor data now continually.
If GDP fails to impress, this may spur further.
Current tech case - Long side momentum into this morning. Would hold off shorts until at least key MA's above.
Do not short and pre-empt any news. Make entries light due to potential volatility (it may not end all doom and gloom and you may go beyond early MA's nearing a 61-78 fib on prev rally.
Longs, if you take them, may be lower and light to protect for inherent risk. Avoid if need be.
The budget released by the current Labour Govt gave reason for this, as well as some poor data now continually.
If GDP fails to impress, this may spur further.
Current tech case - Long side momentum into this morning. Would hold off shorts until at least key MA's above.
Do not short and pre-empt any news. Make entries light due to potential volatility (it may not end all doom and gloom and you may go beyond early MA's nearing a 61-78 fib on prev rally.
Longs, if you take them, may be lower and light to protect for inherent risk. Avoid if need be.
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Posts Not financial advice.
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