Strong Selling Opportunity Amidst Correction on the UK FTSE

The UK FTSE index has managed to break out of the sideways movement that previously signaled distribution activity.

The index also succeeded in breaking through key support levels and establishing strong selling zones aligned with the new bearish trend.

Expected Targets

The UK FTSE is currently in a strong downtrend. We anticipate seeing some upward corrections soon, potentially reaching the new supply zones near the 10,689 level marked on the chart.

Upon reaching these designated supply zones, a resumption of the decline is expected, targeting the 10,620 and 10,510 levels, respectively.

This analysis would be invalidated if the price breaks through the supply zones and closes above them on a daily candle.