Annual Forecast for FTSE 250 – 2020

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FTSE 250 stock (FTSE MCX) has had one of its hardest fall in recent times. The market is trying to go upwards but it is too early to go long right now.

From November 2019 to February 2020, price trudged upwards. However, there was a massive collapse in March, following a bearish run that started in February. All the gains the FTSE
had in the past several years disappeared in a matter of a few weeks!

Price nearly reached the accumulation territory at 12000, and then bounced upwards, after leaving huge amount of fatalities in its trail. In spite of the short-term bullish effort, price remains below the EMA 21. The Williams’ % Range period 20 is also pointing upwards.

However, once price crosses above the EMA 21 on the daily chart, closing above it, that would be a clear bullish signal. By that time, the Williams” % Range would have reached the overbought territory.

From now going forwards, the outlook for MCX is bullish for the rest of the year.

Trading realities: Trading realities

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