FTSE100 Double Bullish Confluence

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Updated: Jan 23, 2018, 11:59 GMT+00:00

The FTSE100 is showing double bullish confluence close to D L3, and D L4 supports. We can spot the W pattern that is also the head of a bigger - inverted

The FTSE100 is showing double bullish confluence close to D L3, and D L4 supports. We can spot the W pattern that is also the head of a bigger – inverted head and shoulders pattern. 7710 zone could spike the price to the upside and continuation of bullish move should happen if the price breaks inverted SHS double top – 7748. Targets are 7755, 7764 and possibly 7771. Only a 4h close or h1 momentum below W L3 7699 might negate bullish scenario. In that case look for a retest of 7683.

W H3 – Weekly Camarilla Pivot (Weekly Interim Resistance)
W H4 – Weekly Camarilla Pivot (Strong Weekly Resistance)
D H4 – Daily Camarilla Pivot (Very Strong Daily Resistance)
D L3 – Daily Camarilla Pivot (Daily Support)
D L4 – Daily H4 Camarilla (Very Strong Daily Support)
POC – Point Of Confluence (The zone where we expect price to react aka entry zone)

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