UK100 has broken through the resistance line which it has tested twice in the past. We have seen it retrace from this position before, so one should wait for confirmation of the breakout before trading. If this new trend persists, a target line of around 6783.1904 can be expected within the next 8 hours.
Related Posts
CAC 40 formed a Rising Wedge on the 4 hour chart. Retest of resistance in sight.
A Rising Wedge pattern was identified on CAC 40 at 7491.1, creating an expectation that it may move…
FTSE 100 – breach of price line that’s been previously tested numerous times before
The price of FTSE 100 in heading in the direction of 8326.7842. Despite the recent breakout through 8252.7197…
ASX 200 – approaching a resistance line that has been previously tested at least twice in the past
ASX 200 is trapped in a Rising Wedge formation, implying that a breakout is Imminent. This is a…