Indicator Signal
- RSI Buy
- MACD Sell
- Donchian Channel Sell
- MA(200) Sell
- Fractals Sell
- Parabolic SAR Sell
Chart Analysis
On the daily timeframe GB100: D1 is falling below the 200-day moving average MA(200), which is declining itself. However, the RSI has formed a bullish divergence. We believe the bearish momentum will continue after the price breaches below the lower boundary of Donchian channel at 4832.81. A level below this can be used as an entry point for placing a pending order to sell. The stop loss can be placed above 5844.09. After placing the order, the stop loss is to be moved every day to the next fractal high, following Parabolic signals. Thus, we are changing the expected profit/loss ratio to the breakeven point. If the price meets the stop loss level (5844.09) without reaching the order (4832.81), we recommend cancelling the order: the market has undergone internal changes which were not taken into account.
Fundamental Analysis
Economic data from UK deteriorated last week. Will the GB100 retreat continue?