FTSE 100 IndexShort
UK100 MEET RESISTANCE [ DISTRIBUTION]
UK100 shows sign of distribution
1) the first sign was the light volume breakout above the 25 oct 2023 resistance level.
2) we believe the light breakout on thu 02 nov 2023 was a pure sign of shakeout, our reason is that after the 02 nov 2023 on the 3 nov 2023 we saw uk100 dropping below the 25 oct 2023 resistance with increasing volume.
3) On Monday confirm our expectation with the weak demand that couldn't break above the 25 oct 2023 resistance, sign of weakness.
4) on the 07 nov 2023 we took our first SHORT POSITION.
1) the first sign was the light volume breakout above the 25 oct 2023 resistance level.
2) we believe the light breakout on thu 02 nov 2023 was a pure sign of shakeout, our reason is that after the 02 nov 2023 on the 3 nov 2023 we saw uk100 dropping below the 25 oct 2023 resistance with increasing volume.
3) On Monday confirm our expectation with the weak demand that couldn't break above the 25 oct 2023 resistance, sign of weakness.
4) on the 07 nov 2023 we took our first SHORT POSITION.
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