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1st November - How solid is FTSE?

05 November 2012

TECHNICALS:

WEEKLY CHART

 

The market’s consolidation above the support from the Prior High at 5685 has been impressive and long-standing.

DAILY CHART

A Fibonacci support has been instrumental at holding the market up.

There is, however, no clear pattern within the consolidation to encourage either the bulls or the bears – short-term. So for the moment the medium-term bull trend remaining intact, thebears have more to prove.

(They might note though, that the recent high-volume days have all been down days….)

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08th Nov - Gold Now in Correction Mode

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01st Nov - Sugar Drops Back Towards Long Term 76.4% Support

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