FTSE: About to give a strong longterm buy signal
FTSE100 has been trading inside a Channel Up since the October 13th 2022 bottom, currently pulling back after a rejection on the internal LH trendline. This has turned the 1D timeframe neutral (RSI = 48.285, MACD = 4.950, ADX = 49.378) and with the price on the 1D MA50, those are the conditions for a buy.
The Buy signal trigger however would be the index crossing over the LH trendline, as it did on a similar pattern on November 10th 2022. We will buy either on that trigger or on the 1D MA200. In both cases TP = 8,250.
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The Buy signal trigger however would be the index crossing over the LH trendline, as it did on a similar pattern on November 10th 2022. We will buy either on that trigger or on the 1D MA200. In both cases TP = 8,250.
## If you like our free content follow our profile to get more daily ideas. ##
## Comments and likes are greatly appreciated. ##
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