FTSE’s retreat from the high of 6830 levels if followed by a day end closing today below 6775 (78.6% of 7122.7-5499.5) would open doors for a much deeper retracement to 6690 levels.
The daily RSI is still yet to hit the overbought territory, while the daily MACD is looking poised to break above zero levels.
Hence, a rebound from 6775 tomorrow could yield a re-test of 6830 levels.
The daily RSI is still yet to hit the overbought territory, while the daily MACD is looking poised to break above zero levels.
Hence, a rebound from 6775 tomorrow could yield a re-test of 6830 levels.
