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 25, 2012

FTSE perfect retest ..so far!

Perfect retest of the consolidation area in the FTSE at 5720...(so far)...as per yesterday's post click here

Today's 4 hr chart so far...

Now it needs some follow through to the upside, a break above 5782 brings the next area of resistance into play  around the 5810 level.("STICKY AREA").  It's also good to look at other markets eg DAX, COPPER for clues as to possible path for the next few days.

The DAX is similar in a need to break above last high at 6470, BUT then there is little resistance up to 7000.
Look at the DAILY chart

Dr Copper is also rallying last at 380 and looks to be on way to the 430 level 

Last but not least..despite markets having rallied for the last few weeks..this has been in the face of skepticism and disbelief from many quarters and a lot of blog forums show "people" looking for tops...so it seems that the rally may continue for longer than expected..buy on weakness..

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