Short FTSE trading below weekly 50 ema first time since June 16!
Following the sell off in equity the FTSE broke below the weekly 50ema and formed a lower high on the daily chart. The past couple of weeks price has retraced to the 0,382-0,5 fib retracement and decelerated at the key S/R level of 7300. First target is around 7100, second target around 6900...
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The weekly 50ema is comparable to the daily 200ema (green ema in the picture)