25th July - Watch the Gilt fall further still
29 July 2013
TECHNICALS:
WEEKLY CHART
The medium-term chart is a complex multiple top.
Complex, but clearly completed.
There is massive resistance above the market at the 113.28/34 level.
Note that the market broke down a month ago and has been pausing since.
Now the pause ( and attempted rally) has failed.
DAILY CHART
The detail of the bounce shows the resistance from the Prior Low at 113.36.
The market has been unable to hold above that level.
Note too the rising volume on the down days since the failure at 113.36.
Note further, the completion of the bear rising wedge – two confirming closes beneath.
The bears are in charge.The bulls have failed.
There is no Fundamental analysis this week, John Lewis is on annual leave
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26th Jul - Soybeans Retest Long Term Support