Ultimately the conclusion of this weekends Brexit talks will dominate how the FTSE moves next week.
IF there is not a positive conclusion to the talks, then the Sell set up looks primed, we have the following confluences;
- RSI bouncing off 70
- Momentum Divergence
- Momentum Weakening
- Bearish Engulfer
- Market broke the previous Post Covid high last week, with the above factors, it suggests the rally is over extended
UPDATE***
Just announced - EU Brexit talks to continue into next week, hardly surprising, but likely invalidates the above
IF there is not a positive conclusion to the talks, then the Sell set up looks primed, we have the following confluences;
- RSI bouncing off 70
- Momentum Divergence
- Momentum Weakening
- Bearish Engulfer
- Market broke the previous Post Covid high last week, with the above factors, it suggests the rally is over extended
UPDATE***
Just announced - EU Brexit talks to continue into next week, hardly surprising, but likely invalidates the above