Technical Analysis – UK100 stock index soars above 200-SMA; gains halted at 76.4% Fibonacci
Posted on October 24, 2019 at 3:13 pm GMTUK100 stock index rallied above the 200-period simple moving average (SMA) on the four-hour chart and up to 7,337, reinforcing the 3-week positive picture and confirming the bounce off the 7,000 level on October 3. The MACD is rising above its red trigger line in the positive zone, favoring more improvements. Despite the pause in the market, a bullish crossover of the 100-period SMA by the 50-period has occurred, while the Tenkan-sen line has distanced itself above the Kijun-sen line, [..]