Today, after Theresa May schedule early elections, UK100 fell nearly 3%. The price made a strong down impulse and out of the narrow range, formed on top and went under 50SMA - negative signal. The next level of support is in the area around the 23.6% Fibonacci retracement which coincides with the horizontal level of support and 200SMA. A break of this level will probably lead to price 38.2% Fibonacci retracement.
Indicators:
Demarker - located in the area of oversales
Demarker Sequential - the indicator began counting indicating that bearish momentum will probably continue
Volumes - volumes are below average and did not give a signal for increasing sales or purchases
Source: Bloomberg
Jr Trader Petar Milanov
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