If we look at the AEX we are seeing an uptrend, but if we look at the FTSE, we are seeing an breaking-out above the upward trendline. If we look at the RSI index we are seeing an really long trend the last time above our upper band. If we look at the MACD we have some pression the last semair. If are looking aging at our stockimage in the bollinger bands there...
With oil prices down and looking bearish, airliners may see a much needed corrective rally. Easy Jet daily chart shows, rising bottoms on the hourly chart. As long as June 27 low of 990.50 is not breached on day end closing basis, the risk of a snap back to 1100 levels is high.
Failure to sustain above recent high of 6743 followed by a break below trend line support (drawn from 6743 to 6736) suggests the index could test hourly 50-MA level of 6687 levels. A violation at 6687 would open doors for a drop to July 15 low of 6616 levels. On the other hand, a rebound from hourly 50-MA followed by a day end closing above 6743 would suggest...
FTSE’s bearish break from rising wedge formation as pointed out yesterday did lead to a drop to 6663 levels today before the index spiked on weak data. Bad news is good news Today’s reaction to weak UK July preliminary PMI figures (highlighting the economy at weakest since 2009) was the classic “bad news is good news” trade. Weak data pushed up prospects of...
FTSE's bearish break from the rising wedge pattern amid overbought conditions suggests a technical correction to weekly 5-MA of 6530 could be seen over the next few days. On the other hand, an hourly closing above 6743 would put bearish view at risk, although bearish invalidation is seen only if prices see a day end closing above 6743.4. In such a case, the...
A bearish 4-hourly candle closing would confirm a bearish price-RSI divergence, however, selling is likely to gather pace only below 6610 levels, in which case the inverse head and shoulder neckline support at 6400 stands exposed. Only a day end closing above 6744 would signal continuation of the post Brexit rally
Hourly chart has - Inverse flag and pole formation. This a continuation pattern which means a bearish break signals continuation the downtrend. The hourly RSI has formed falling tops, which suggests the odds of prices moving towards a bearish break are high.
Weekly chart shows Falling trend line breached Trades above 23.6% Fibo of July 2014 high-Jan 2016 low) = 932.85 Confluence of trend line support (rising+larger falling) seen around 880. Correction could run into fresh demand around 880 levels. Another scenario - Rebound from 23.6% followed by a break above 1039 (last week's high) would open doors for...
Pattern - Bearish price RSI divergence on 4-hour chart, RSI in moving in a triangle Bulls ought to keep a close eye on this chart as the bearish break in RSI and/or prices dropping below 6610 would open doors for a corrective move to 6400 (inverse head and shoulder) neckline On the other hand, break above 6744 would suggest failure of bearish divergence
Pattern - Bearish price RSI divergence confirmed on hourly chart 4-hr and daily RSI is turning lower from the overbought territory as well. Prices likely to test rising trend line support seen around 1400 Bearish invalidation is seen only above the recent high of 1495
Ashtead Group PLC – Poised for Bullish break from flag pattern on weekly chart. This goes well with the fact that it derives a majority of its revenue (84%) from North America. Nice rebound from rising trend line followed by bullish break from flag pattern could yield re-test of 2015 high of 1231. Caution – Volumes have dropped
Standard Chartered shares are flirting with inverse head and shoulder neckline and appear poised to close the day higher. That would be confirm a bullish break and present a technical target of 831. However, as of now, that appears a big task given the banking concerns in Europe. Nevertheless, a bullish break on day end closing basis would open doors for...
Burberry's sharp rise this week suggests a bottom is in place around 1080 and once prices break above falling trend line hurdle seen today at 1320, the doors would be opened for a test of double bottom neckline resistance at 1468. On the other hand, a failure to break above weekly 50-MA level of 1261 followed by a retreat below this week's low of 1160 could...
SYNOPSIS : 1 - Limited downside risk per Predictive/Forecasting Model 2 - Predictive/Forecasting Model eyes 7296.19 3 - large developing geometry complies with internal construction of Geo 4 - Internal ab = cd nears "Model" target 5 - Internal inverted H&S in near alignment with reciprocal ab = cd symmetry 6 - Reversal probable at WL target 7 - Invalidation...