BLND.L dominated by bears dragging the market lower throughout the day
British Land (BLND.L) Technical Analysis Report for Jul 13, 2018 | by Techniquant Editorial Team
Moving higher for the 2nd day in a row, BLND.L finished the week -1.17% lower at 656.40 after edging higher £0.40 (0.06%) today. The bears were in full control today, moving the market lower throughout the whole session. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session.
Daily Candlestick Chart (BLND.L as at Jul 13, 2018):
Friday's trading range was £6.20 (0.94%), that's below last trading month's daily average range of £7.29. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being above average.
Prices are trading close to a key support level at 652.20. Prices are trading close to the key resistance level at 660.20.
While still in a long-term uptrend, the short and medium-term trends both turned bearish already.
Selling might accelerate should prices move below the close-by swing low at 652.20 where further sell stops could get activated.