Daily chart shows a bullish break from symmetrical triangle formation. Prices breaking above Aug 9 high adds credence to the rebound from triangle support seen today. Furthermore, we also see a bullish break on daily RSI from flag pattern. Hence, prices appear on track to test 200.00 levels.
There seems to be no stopping for the FTSE100 index. Fresh demand/buying interest below 5-DMA underscores the fact that sellers just don’t have motivation to enter the markets. The index appears poised to test 6962 (127.2% Fibo extension of Feb 2011 low – Apr 2016 high – June low). However, note the money flow indicator is overbought now… so caution...
Multiple failures around 234-235 levels followed by a sharp drop today suggests the prices could be heading lower to the symmetrical triangle floor seen around 226 levels. Daily MACD and RSI have turned flat, while the volumes have stayed healthy. Moreover, break in volumes above 20-day average today would add credence to possibility of a drop to 226...
Glencore’s brief dip below hourly rising trend line followed by a quick recovery above 186.15 (38.2% of 379.40-66.70) has kept the doors open for a re-test of 190 levels. The hourly indicators- MACD and RSI have turned sideways, leaving little room for a guess work. However, on the daily time frame RSI is losing height from the overbought territory, while MACD...
A good short opportunity if price breaks the wedge on UK100, this is only an idea, trade with care.
End of the bull run Global Equity Indexes: 1. SPX/ Global Equity indexes in the past 2/3wks saw a post-brexit central bank easing induced rally, as many CB released dovish statements following the vote which spurred investor confidence in fresh easing. - IMO much of the bull run was based on BOJ easing hopes, given the size of the economy (4th largest)...
Declining RSI (14). Strong resistance. MacD and K.S.T. (Know Sure Thing) about to cross. Weak fundamentals
FTSE100 monthly chart looks super bullish and says the index may very well on track to post record highs. A move to record highs doesn't look impossible, given the Bank of England (BOE) is seen cutting rates next week and a significant majority also believes it would restart QE program. On monthly chart, every dip below 6000 was met with fresh buying interest...
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.