Just briefly, The breakout happend,following a big drop similar to the one earlier on the FTSE.We have finally ended up tonight forming a new support at 10,920, which was previously resistance.The up trend continues with support at just over 10,820, and resistance at an estimated 250 above that, making 11,070.I still think the target range of 11,300 - 11,550 is reasonable, but wait and see the reaction to the "possible" rate cut of 0.5% tomorrow. Could be make or break....
Note the chart is 30 min intervals...( last one was 60)
Interesting to note the correlation of CCI = 0 and dow finding support/resistance levels.....
Note the chart is 30 min intervals...( last one was 60)
Interesting to note the correlation of CCI = 0 and dow finding support/resistance levels.....
