Courtesy of Chris Kimble.
Could be an important time for London right now!
Below looks at the FTSE 100 (London) over the past 6-years.
CLICK ON CHART TO ENLARGE
As mentioned above, the FTSE 100 remains inside of a 6-year rising channel. Two support was tested this year at (1). While testing 6-year rising support, the FTSE 100 created bullish reversal patterns (bullish wicks) at rising support channel at (1).
The strong rally following the Brexit vote, now has the FTSE 100 testing the 23% Fibonacci retracement level and the underside of resistance at (2).
What the FTSE 100 does at (2), would well impact the broad markets in the states, as the rally in London, has been followed by markets all over the world.
Risk On trade want/needs the FTSE 100 to continue to push higher at (1).
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