Technical analysis on the Ftse

CHARTY

Active member
119 1
I went short the Ftse last night (will I soon regret it?)

The upper Bollinger band is at 5873. There was Doji formation last night on the future on the Ftse. This is a reversal signal.

There is a minor negative divergence on the RSI on 9 days.
Stochastics are in the overbought area and showing some weakness. The rate of change indicator on 5 days reached its highest reading since 2nd June on 10th April. It has come down a bit, a further element suggesting loss of momentum.

Macd remains positive.

The ADX indicator has been falling since 23rd March and currently stands at 22.36, suggesting loss of directionality.

Conclusion. I personally see more chances of a downside than upside in the near future. Medium term, there is enough evidence that selling pressure has very much diminished.

The text above does not constitute financial advice.
 

troyresearch

Active member
132 0
FTSE Short

Hi Martin

Was looking at your posting(s) about shorting the FTSE and was curious about one point which I hope you might be able to explain.

You mentioned that the Upper BB was at 5873 on 11/4. Was looking at my chart of the FTSE 100 for that date and I made it nearer 5840. Not a huge differential but wondered if this indicates whether there might be a problem with my data. Or maybe you've changed your BB settings?

Attached is a screen grab of my FTSE 100 chart. Hope you might be able to solve the mystery.

Best wishes

Troy
 

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CHARTY

Active member
119 1
Erm, sorry, was that query for me or for Martin?
 

ChartMan

Legendary member
5,580 46
Charty- I think troyresearch has mistaken You ( Charty) for me ( ChartMan aka Martin).
Troy- we are not the same person :)
 
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