FTSE 100 - April

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Hooya

Experienced member
1,802 2
<b>if</b> this rally is a correction to the downside in the bigger picture the next wave down might be quite nasty seeing the 200s again.
 

mully

Established member
967 3
FTSE 100 has at last got back to its rising 1 day SMA . Now this is a more significant test of the trend.
 

mully

Established member
967 3
FTSE 100

To-days action feels very much like profit taking, rather than a change of direction for the FTSE. Therefore, think this is a wave 4 of 5 and that there is a final wavelet 5 to complete the move from 24/03/2004
 

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Hooya

Experienced member
1,802 2
agree with you jonny....this current leg up wont get too far imo. maybe a retest of the highs
 

mully

Established member
967 3
BP impact on FTSE100

Oh! for the benefit of BP. It is a new high for the stock since the market low in March 2003.
 

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bonsai

Veteren member
4,106 11
it took longer than I had thought but dollar does seem to have topped for now ?

so maybe that single staircase beckons and 4500
 

Hooya

Experienced member
1,802 2
60 min channel held for the time being but not sure Ive seen the 1hr bounce of the 1day at that angle before:)
 

bonsai

Veteren member
4,106 11
we found some sort of support below the fib, yesterday
maybe today, we will find support above the fib ? and revisit zero on the macd
 

splasher

Active member
103 0
well the figure of 00 definitely was a magnet for the futures, i was surprised at the strength of sell off from the off, maybe we can start to see tests of levels now the figure has been touched (well a tick away)
bonsai i'm a technical novice, picking things up week by week so can you explain what you meant by your macd comments?
are you looking at macd over say a month when it seems to be between 3.4 and -3.5 on my charts and seeing it approach 0?
if so what does that mean?
cheers
splash
 

Hooya

Experienced member
1,802 2
a fake break of the 1 day would be good...I just cant see it going to far out of yesterdays range.....yet.
 

mully

Established member
967 3
I do not want to get anybody excited, BUT have you seen the positive moves in the Pharmaceuticals. Glaxo has suddenly found some friends. The combination of both rising Oils and Pharmaceuticals.........
 
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