FTSE 100: UK100 Nice impulse wave down - great for day-traders
FTSE 100 UK100
FTSE's made fine double top spread out over 5 months, quite a big one therefore. Since then it's got itself into a well defined
impulse wave which day traders are clearly loving, sending a series of point perfect buy and sell signals all the way down,
pretty much. This index remains in the grip of the bears until it can break free of the upper parallel. They look capable of
driving it down to 7295 at least if not to 7195 again.
It's in a very weak near term technical position whilst below fixed resistance at 7383 and still trapped within the impulse wave.
Only by moving up above 7383 and then breaking free of the upper parallel will the bear-spell be broken - stops above the
parallel for shorts, looking to sell more on each test of the upper parallel until the target is achieved
FTSE's made fine double top spread out over 5 months, quite a big one therefore. Since then it's got itself into a well defined
impulse wave which day traders are clearly loving, sending a series of point perfect buy and sell signals all the way down,
pretty much. This index remains in the grip of the bears until it can break free of the upper parallel. They look capable of
driving it down to 7295 at least if not to 7195 again.
It's in a very weak near term technical position whilst below fixed resistance at 7383 and still trapped within the impulse wave.
Only by moving up above 7383 and then breaking free of the upper parallel will the bear-spell be broken - stops above the
parallel for shorts, looking to sell more on each test of the upper parallel until the target is achieved