UKX to 9090?

17 ene 2023

FTSE100 (UK100, UK stocks index) been laggard for many years in comparison with many of it's peers. Now it seems the UKX will finally make new all-time high🍾 and will go even higher. I think we are in continuation move up after breaking out of the consolidation in form of triangle. Target @ 9090 being measured move - height of the triangle projected from midpoint of local range. Invalidation would be the local range low @ 4791 which is too far away meaning unfavourable reward risk ratio but this idea is rather about directional bias. Bear in mind this is monthly chart so the move will not happen over night obviously.

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⚠️Disclaimer: I'm not financial advisor. This is not a financial advice. Do your own due dilingence.