The
UKX
has been bearish for a few months.
Price at the moment is below the 50 and 200 simple moving averages. Price did not look like slowing down but today it has bounced
off a strong support level at £68.75 from May 2013.
Since we are below both moving averages, this bounce does not mean much just yet. For price to become bullish again then
we need a break of the 200 moving average.
It will be interesting to see whether price will close the day bullish in a few hours, if so then it may be a sign that we will at least
have near term strength in this Indice.
Any comments or questions, do not hesitate to leave them below.
Sublime Trading
UKX
has been bearish for a few months. Price at the moment is below the 50 and 200 simple moving averages. Price did not look like slowing down but today it has bounced
off a strong support level at £68.75 from May 2013.
Since we are below both moving averages, this bounce does not mean much just yet. For price to become bullish again then
we need a break of the 200 moving average.
It will be interesting to see whether price will close the day bullish in a few hours, if so then it may be a sign that we will at least
have near term strength in this Indice.
Any comments or questions, do not hesitate to leave them below.
Sublime Trading