Charmer Charts FTSE daily technical analysis forecast
- Thread starter CharmerCharts
- Start date
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FTSE made no impact on the topside at all and saw sellers pile in taking us down through he march lows to
5636. As you would expect we are very oversold short term so could see a small bounce early in the session
but we would need to close above 5674/86, if we stay below here pressure is firmly to the downside and we
may not have seen the end of this sell off.
Support is found at yesterdays lows and support at 5632/36. If we break below here then we would target
5600/04, and then 5561/63 is your next target. Below here the long term 38% level at 5525 is likely to hold
any further sell off today and we would likely see a bounce from here so attempt longs with stops below
5505 as below here and we would see sellers re enter the market with your longer term target at 5394.
Now if we can hold over support at 5632/36 we may see a bounce up to the March lows and the long term
23% level at 5671/86 given yesterdays losses this may hold any bounce for today but above here and we
would likely head to the short term 23% level at 5710. A break higher targets 5755 and then yesterdays
highs and fib resistance at 5788/92.
5636. As you would expect we are very oversold short term so could see a small bounce early in the session
but we would need to close above 5674/86, if we stay below here pressure is firmly to the downside and we
may not have seen the end of this sell off.
Support is found at yesterdays lows and support at 5632/36. If we break below here then we would target
5600/04, and then 5561/63 is your next target. Below here the long term 38% level at 5525 is likely to hold
any further sell off today and we would likely see a bounce from here so attempt longs with stops below
5505 as below here and we would see sellers re enter the market with your longer term target at 5394.
Now if we can hold over support at 5632/36 we may see a bounce up to the March lows and the long term
23% level at 5671/86 given yesterdays losses this may hold any bounce for today but above here and we
would likely head to the short term 23% level at 5710. A break higher targets 5755 and then yesterdays
highs and fib resistance at 5788/92.
Re: FTSE daily technical analysis forecast
Hmm... The 5705/5700 level didnt hold good.. FTSE went down till 5692 before turning up...
Made it right on the upside limit of the next leg up.. Peaked at 5723.8..
'Deeper South' didnt happen.. We fell 13 points in the last 10 mins.. Expected traders to close off more longs before long weekend, which didnt happen..
Charts are closed now.. See ya next week...
Hmm... The 5705/5700 level didnt hold good.. FTSE went down till 5692 before turning up...
Made it right on the upside limit of the next leg up.. Peaked at 5723.8..
'Deeper South' didnt happen.. We fell 13 points in the last 10 mins.. Expected traders to close off more longs before long weekend, which didnt happen..
Charts are closed now.. See ya next week...
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FTSE again made some fresh lows on Thursday reaching down to 5613. We saw buyers come in at these lower
levels and we saw up to the long term 23% fib level at 5687 and this held us on the topside. We didn't
close slightly below this level so we would expect a test of this level early in the session and if can get above
we may see a further bounce but failure here sees the pressure build to see the sell off resume.
Support is found at Wednesdays lows and support at 5632/36. If we break below here then we would target
Thursdays lows 5604/13, and then 5561/63 is your next target. Below here the long term 38% level at 5525
is likely to hold any further sell off today and we would likely see a bounce from here so attempt longs with
stops below 5505 as below here and we would see sellers re enter the market with your longer term target at
5394.
Now if we can break back above the long term 23% level at 5686/92 we may then see added buyers coming
in to have a go at the next resistance at 5741/44. Given the recent downtrend this may cap any bounce for
today but go with a break higher for 5777/81 and then 5820 which should hold at the first attempt. Any
higher though and we would look to 5849.
levels and we saw up to the long term 23% fib level at 5687 and this held us on the topside. We didn't
close slightly below this level so we would expect a test of this level early in the session and if can get above
we may see a further bounce but failure here sees the pressure build to see the sell off resume.
Support is found at Wednesdays lows and support at 5632/36. If we break below here then we would target
Thursdays lows 5604/13, and then 5561/63 is your next target. Below here the long term 38% level at 5525
is likely to hold any further sell off today and we would likely see a bounce from here so attempt longs with
stops below 5505 as below here and we would see sellers re enter the market with your longer term target at
5394.
Now if we can break back above the long term 23% level at 5686/92 we may then see added buyers coming
in to have a go at the next resistance at 5741/44. Given the recent downtrend this may cap any bounce for
today but go with a break higher for 5777/81 and then 5820 which should hold at the first attempt. Any
higher though and we would look to 5849.
FTSE couldn't make any move higher and the recent tumble continued seeing below the long term 38% level at 5525. We are not oversold yet on the daily and if we stay below the 5525 level then pressure remains to the downside and the bears would remain in control.
If we stay below 5525 first support is yesterdays lows at 5493. Below here and next support is at 5459/64. Any lower and we would look to the long term 50% level at 5394 which is likely to hold any further sell off today but below here look to 5348/58.
Now if we can break back above the long term 38% level we may then see a bounce up to resistance at 5561/63. If we can get above here we may then see up to the 23% short term level at 5600 which may hold any rally for today but go with a break higher for yesterdays highs and resistance at 5636/40 and then 5667/71.
If we stay below 5525 first support is yesterdays lows at 5493. Below here and next support is at 5459/64. Any lower and we would look to the long term 50% level at 5394 which is likely to hold any further sell off today but below here look to 5348/58.
Now if we can break back above the long term 38% level we may then see a bounce up to resistance at 5561/63. If we can get above here we may then see up to the 23% short term level at 5600 which may hold any rally for today but go with a break higher for yesterdays highs and resistance at 5636/40 and then 5667/71.
FTSE managed to bounce yesterday after opening slightly higher and getting above long term resistance at 5525 then reaching first short term fib resistance at 5600 which held the upside. We closed well above the 5525 level and as long as we hold above here we should be able to have another go at the 5600 level.
Resistance remains at the 5600 level as mentioned and if we can back above here we would then look for the market to bounce up to resistance at 5561/63. If we can get above here we may then see up to the 23% short term level at 5600 which may hold any rally for today but go with a break higher for yesterdays highs and resistance at 5636/40 and then 5667/71.
Support today if we see sellers back in at 5525 before the weeks lows at 5493. Below here and next support is at 5459/64. Any lower and we would look to the long term 50% level at 5394 which is likely to hold any further sell off today but below here look to 5348/58.
Resistance remains at the 5600 level as mentioned and if we can back above here we would then look for the market to bounce up to resistance at 5561/63. If we can get above here we may then see up to the 23% short term level at 5600 which may hold any rally for today but go with a break higher for yesterdays highs and resistance at 5636/40 and then 5667/71.
Support today if we see sellers back in at 5525 before the weeks lows at 5493. Below here and next support is at 5459/64. Any lower and we would look to the long term 50% level at 5394 which is likely to hold any further sell off today but below here look to 5348/58.