UKX: Opportunities for short from the historic high

05.10.2016 / 12:36

Rating:

UKX: Daily schedule - vuzhodyashto movement to historical resistance level

Price below horizontal resistance

Price action: pin bar of resistance - probably fall

indicators:
50 / 200MA: not yet provide indications of a reversal in the direction of the price
DeM / CCI (50): indications of a fall in the price zone of over-bought market

SL: 7140.00

Sentiment: Expectations for better data on US NFP and the likelihood of an increase in interest rates in December supporting the dollar, which is negative for the indices. Today we expect data on ADP Nonfarm Employment Change, if the is better than expected it will support the dollar and its negative sentiment in stock.

Alternative scenario: If the price crosses above the shadow of the pin bar is impossible to see the break above the top and a new bullish momentum

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UKX: Opportunities for short from the historic high

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