UKX: index formed a negative formation "curtain of dark clouds" - in an uptrend, reversing candle opens with a gap and closes below the middle of the first one. This is "bearish" conversion.
Signal is negative, we can see the continuation of the decline in the index. The price is still above the 50 period moving average, a break below it will give a second negative signal to sell.
Support the index are very far away, which means that the decrease may be strong.
Indicators still do not give us negative impulses, but they lag behind the formations of Japanese candles.
Lowering the price of oil has a negative impact on the index, because mining and oil companies in the UK have a large weight in the index.
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.