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Seems like the probability is weighted in favour of a bear move from here, either the BIG one, OR (more likely IMHO) a move back into the rising channel with lower boundary at 5200 ish
Tuesday, October 5, 2010
FTSE near some tough resistance
FTSE rally hos now reached the down trend line from 2007 high best seen on weekly chart below:
Also on the daily chart looks close to some strong horizontal resistance areas...is there a possible head and shoulders forming ? ssshhhhh...
Seems like the probability is weighted in favour of a bear move from here, either the BIG one, OR (more likely IMHO) a move back into the rising channel with lower boundary at 5200 ish
Seems like the probability is weighted in favour of a bear move from here, either the BIG one, OR (more likely IMHO) a move back into the rising channel with lower boundary at 5200 ish
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