CFD and Spread Betting Report: Double top pattern developing in FTSE 100 index
In his ‘Week Ahead’ report for 14th February, Sandy Jadeja of monetary spread betting provider City Index (http://www.cityindex.co.uk/) takes a look at the events set to shape trading over the next 7 days.
“Even though the indices have performed nicely more than recent weeks the existing development may possibly be an early warning signal. Correct now the FTSE 100 index seems to be creating a Double Top pattern which could potentially recommend that a leading might be forming at current price levels. Oil prices have also dropped lower as expected after the recent surge greater which seems to be short lived. The opportunity for Bears to take control may possibly be on the cards but further weakness ought to be demonstrated before confirming key reversals from current price levels.