FTSE – reversal candle at 62% Fibonacci signals pullback
Two days of investor indecision at a 62% Fibonacci correction were ended yesterday with a sharp reversal lower. This reversal candle has ended a sequence of higher daily lows and points signals down for a test of the key moving averages.
Management and risk description
Allow room to sell an intraday bounce and lower stop to entry if the first target is met.
Entry: market and 6230.0, Wednesday's low
Target: 6130.0, the 200-day average and 6092.0, the May 24 low.
Time horizon: today only.
— Edited by Clare MacCarthy
Non-independent investment research disclaimer applies. Read more