FTSE just broke below two Bearish Patterns -Target 6,981

Inverse Rev Cup and Handle has formed on the daily.
And a Symmetrical Triangle too.
Now the Symm Triangle is normally a continuation pattern. But because of the state of the markets world wide, they are bringing down the main indices like FTSE 100.
These are bearish signals along with these indicators.
21>7
Price<200 (Red zone)
RSI<50 (Red zone) and lower highs.
Target 6,981

Kommentera:

The FTSE 100 is on track to the downside target. There are no signs it wants to turn up yet.

It broke the symmetrical triangle, testing the resistance (which was a support) and now it's coming down.

I'll keep you updated with this one.