Aurum Markets Blog Technical Analysis Either a rebound or a breakout imminent on FTSE 100

Either a rebound or a breakout imminent on FTSE 100

Either a rebound or a breakout imminent on FTSE 100 post thumbnail image

Emerging Descending Triangle detected on FTSE 100 – the pattern is an emerging one and has not yet broken through resistance, but the price is expected to move up over the next few hours. The price at the time the pattern was found was 8760.96 and it is expected to move to 8713.1427.

Supported by Downward sloping Moving Average

Target: 8713.1427 Entry: 8760.96 Stop: 8818.5

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