Technical Analysis – UK 100 index turns slightly higher; indicators confirm bullish bias
Posted on September 20, 2018 at 1:28 pm GMTThe UK 100 index jumped above the 50.0% Fibonacci retracement level of the upleg from 6760 to 7905, around 7333, during Wednesday’s session. Currently, the price remains slightly above its opening level, however, the technical indicators are standing in the negative zone. The RSI is edging slightly higher below 50 level and the MACD has jumped above its trigger line. Should the market extend gains in the short-term, resistance could be met at the 38.2% Fibonacci retracement level of the upleg from 6760 to [..]