A few of my followers have asked why I believe FTSE has already topped and why the decline has started.
This chart is updated from my original long term FTSE chart back in 2017 which has FTSE in a long ending
diagonal since 2009.
Note the accurate top trendline with a solid PP and multiple hits on this trendline with a set of overlapping
A,B,C waves.
Importantly the final wave since 2016 is exhibiting falling strength as shown by the RSI chart.
With the uncertainty around Brexit and the usually volatile Oct period nearly here I do not see where the
momentum will come from to push FTSE to a further new high!
Of course this analysis may be wrong and I think the OCT/NOV period will decide this.
Good Luck
This chart is updated from my original long term FTSE chart back in 2017 which has FTSE in a long ending
diagonal since 2009.
Note the accurate top trendline with a solid PP and multiple hits on this trendline with a set of overlapping
A,B,C waves.
Importantly the final wave since 2016 is exhibiting falling strength as shown by the RSI chart.
With the uncertainty around Brexit and the usually volatile Oct period nearly here I do not see where the
momentum will come from to push FTSE to a further new high!
Of course this analysis may be wrong and I think the OCT/NOV period will decide this.
Good Luck