FTSE 100 - May

[peterpr]

Thanks for that Hooya - v useful indeed and goes a long way to clarifying Friday's index price movements in the few seconds before 16:30 + the hike of @ 4-6 points after + the further hike in the June future by 5:30. The balance of sentiment was clearly that, in light of a fairly flat US market and the inexorable decline throughout the day, there were bargains to be had.

It will be interesting to see how long that sentiment continues - if at all - following events in Saudi Arabia and the markets obvious pre-existing nervousness.

Peterpr

 

[barjon]

Not much informative in the candles this week. We seem stuck in an 80 point range bounded by the low point of the long(ish) down and the high point of the long(ish) high. This is the wrong way round of course!! - the high point of a long down is supposed to give resistance and the low point of a long up support.

For interest I've also squeezed the action to 3day candles which gives us a nice long down candle with the subsequent action being contained by the mid-point resistance (almost co-incident with fib50% of course).