Look back over the past, with its changing empires that rose and fell, and you can foresee the future too.

— Marcus Aurelius


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Wednesday, January 18, 2012

FTSE ..consolidating rally from 5330 to 5700

Looking at the 4 hr chart we can see the rally from 20/12/2011 to 04/01/2012 a total of 382 points

Since then the market is rangebound with attempts at breaking out over 5720 repelled and selling off to as low as 5580 so far...

so it looks like CONSOLIDATION of the move up..which means we should see a break above 5720 resistance in near future..

The DAX seems to have broken resistance at 6170 and now looks to be heading to next at 6400
The DOW is similar to the FTSE, finding resistance at 12500

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