On the daily chart there is clearly a series of higher highs and higher lows. Provided that todays close doesn't penetrate the previous low just above 6400 I would be looking to establish a long position with a target of at least 50% of the channel drawn, but long term target would be 6900 if it completes
i would be looking to long the market after market maker manipulation
looking to take out the highs before we head lower lots on the GBP calendar
The UK100 / FTSE has been in a consolidation range that formed a huge symmetrical triangle. Noted on chart are bull and bear targets. However, the trend is up, so my bias for the FTSE is the bull market will continue and make new highs in 2014. Trade set ups for longs, buy on a pullback to bottom of triangle trendline - pullback to 6574 on signs of support -...
The FTSE is at a confluence level of trendline and 50% fib. It also has a similar pullback to its previous two pullbacks. If Santa is going to show up, could it be here?
Historially, 'santa rally' due about now. Market fairly valued on a dividend DCF basis. So expect small rise now - new years eve. Chart indicates increasing 'compression' so expect volatility in early '14
It seems there is the possibility of a correction from current levels in the area for at least 6100-6060