Though FTSE has not tested 5450 level but still it has created a short-term bearish pattern (approximate). I think if FTSE does not able to continue it’s up moves which we saw in later days of this week then there is a chance that it may trigger that bearish pattern. So early to middle days of the coming week are very important or I would rather say breaking roughly 5750 level in the upside.
On the other hand chance of reacting on its bullish is still there but since it is not a straighter one so it may take some time. Here I must mentioned that if FTSE breaks 6000 level then in technical term it will not act on its medium to long-term bearish pattern. After this week’s moves I cannot say that FTSE will follow the higher highs and higher lows trend so moves towards 5900 level may not be easy. So FTESE must stay above 5600 level in earlier days so that it can take more upward steps but for avoiding short-term bearish pattern it needs to break levels above 5700.
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