The UK 100 has pulled back from its 7420 6-week highs, consolidating its 4.8% bounce from recent 7080 lows. This puts it in a shorter-term falling channel, one which bulls will hope proves a bullish flag that sends it 4.8% higher, to challenge – perhaps even exceed – April’s 7528 peak. Nonetheless, watch for that…
The UK 100 is holding this week’s rebound, +2.7% from a revisit of March lows, shifting from a 2-week end-May falling channel into a fresh rising channel to make for a positive start to the new month and quarter. This is in spite of Trade tensions having ratcheted up a notch, President Trump now threatening…
The UK 100 is holding above 7130 twin support (horizontal, shallow rising) but remains in a falling channel from 7373 highs. Drivers of the decline since mid-month are US-China trade dispute (and now US-Mexico) and increased appetite for bonds rather than equities. After a 3% sell-off, however, has the correction run its course? Are we…
The UK 100 is both off its lows and its highs into the long weekend. We are sideways, and uncertain whether this is the beginning of a second bounce from 7210 towards prior highs of 7500. Or is today’s bounce petering out at 7300 for another leg down, for a revisit of 7210, perhaps even 7129. Bulls…
The UK 100 is alive and she is kicking! after several weeks of pullback since its 2019 highs, the index managed to bounce off a 7129 support and reach right up to the floor of the previous multi-month range that we have seen so much of this year. Is this 3.2% bounce off the…
This week the UK 100 extended its pullback from 2019 highs. Déjà vu? You’re not mistaken. I wrote the same last week. The index even broke below 7300 to test 7200, a level we are re-testing as I type. Will this prove a mini-range which helps the index bottom out? Or is it merely a within…