The FTSE100 (UKX) looks strongly bearish while aiming lower.
We have multiple signals that support the above...
1) Prices moving below EMA10/21. 2) MACD trading below the zero line and looking weak. 3) The RSI is trending lower yet still good. 4) Bad news for UK with a new lockdown likely taking place. 5) Less political manipulation of the market allows easier for RED to be printed.
The UKX is very likely to continue lower.
Conditions for change If prices move and close weekly above 6068.1, the above signals are invalidated.
Any trading below EMA21 and we remain strongly bearish.