FTSE 100 - W/C 11/11/2024

The FTSE 100 hasn't reacted posiively to the US elections. From a longer-term view the trend is still positive and may hold up. However, the medium to short term trends are waning and could potentially be at the early stages of a downtrend. Immediate price action also indicates a turn in trend. Additionally, momentum (RSI) and trend (MACD) indicators have both given sell signals. Caution to be taken if short positions are placed as the 50 week moving average is still positive.A close below this line signals further decline.