FTSE 100- Trading in a Symmetrical Triangle Pattern
The FTSE 100 index is trading in a symmetrical triangle pattern on 4 hour time frame. Although, these patterns are ranked towards the bottom due to their unreliability, however they usually break in the direction of the trend. As the price is trading above the 50 and 100 day (showing yellow and red) moving averages, this confirms that the trend is toward the upside. As long as the price is trading these averages the bias remains towards the upside.
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