How come on last friday FTSE made a multi year high and now broken
the first two support lines ? I think most of it is the december retail sales report.
Fundamentals are weak but who cares, trade what you see, not what you think.
Today and tomorrow i am expecting an impressive rally also because US markets
have shown signs of reasonable support around 10550.
Ftse 100 could hit 5000. But i think in short term, high volatility can be utilized.
Bears are targetting 4700 by end of feb. Bulls target 4900 same time scale.
Fundamentals suggest 4700 but charts are giving mixed signals. So i
think support and resistance is the key and go with the trend.
I'll hold my long position if we close above 4830 today.
the first two support lines ? I think most of it is the december retail sales report.
Fundamentals are weak but who cares, trade what you see, not what you think.
Today and tomorrow i am expecting an impressive rally also because US markets
have shown signs of reasonable support around 10550.
Ftse 100 could hit 5000. But i think in short term, high volatility can be utilized.
Bears are targetting 4700 by end of feb. Bulls target 4900 same time scale.
Fundamentals suggest 4700 but charts are giving mixed signals. So i
think support and resistance is the key and go with the trend.
I'll hold my long position if we close above 4830 today.
