FTSE 100 Worth Evaluation & Information
- FTSE 100 Types Demise Cross
- Dangers Tilted to the Draw back for FTSE 100
Beware as FTSE 100 Types Demise Cross
The outlook has definitely darkened for the FTSE 100 on the technical entrance with the index forming a demise cross, wherein the 50DMA has now damaged under the 200DMA. Sometimes, a demise cross formation supplies a technically bearish sign, thus dangers for the index are titled to the draw back with eyes now positioned on key help at 7115, which 50% Fibonacci retracement and coincides with the rising trendline stemming from the 2019 low.
Prior to now 7 years, the index has shaped a demise cross on 4 extra events, which finally resulted within the FTSE 100 heading decrease within the following month, dropping 0.5% on common. The worst efficiency within the FTSE 100 had been seen in 2015, wherein the index had fallen over 6%. That mentioned, whereas the index has offered a bearish sign, focus will stay on politics as contributors await the result of the US-China commerce talks.
Supply: Refinitiv, DailyFX
FTSE 100 Worth Chart: Day by day Time Body (Nov 18 – Oct 19)
— Written by Justin McQueen, Market Analyst
To contact Justin, e mail him at Justin.mcqueen@ig.com
Observe Justin on Twitter @JMcQueenFX