The passing week continued the Daily timeframe correction started the week before, in an A-B-C manner, forming a bearish setup to reach the 6738 level. The bullish setup advised here on the previous review didn’t form completely as though the price did take out the High of the previous Friday, instead of a reaction and Read More
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Like other European indexes, the FTSE100 had a Daily correction throughout most of the passing week, and was rather weak than the American indexes. Pay attention to the negative correlation among stocks and currencies in the Euro zone, that became much significant lately (as opposed to this same kind of correlation in the US where for a Read More
Not surprisingly, the FTSE100 was one of the strongest indexes throughout the passing week, as the index had given a very good bullish signal, a thrust above a Weekly bullish pinbar on a sloping 8 EMA line, high momentum, after a retest of an important Monthly line mentioned before, being a confirmation that the market has overcome Read More
The passing week’s bar demonstrated a typical shake out. The market started with a false thrust above the Daily pinbar I’ve suggested in the last review as an aggressive buying position, then extended the range down taking out stops at the last lows: 6663.72 and 6616.51, then reversed, closing the week much more powerful – Read More
Another small range weekly bar has printed on the Weekly chart, but this time it was very meaningful though. The fact that the price closed the Monthly chart above the important Monthly LLBH (Last Low Before High) discussed extensively in the last reviews, is an important sign of strength. Unless we see a Monthly contra Read More
The passing week ended as a narrow range Weekly inner bar, right on the important resistance at 6693.8, the Monthly LLBH prior to a 15 Year range false breakup (so far). Here is a reminder as of the Yearly chart: The Monthly chart shows the picture more clearly. The coming week may reveal Read More
As expected, the FTSE100 is currently facing an important resistance at 6693.8 mentioned extensively in the last review. The Daily bars are printing a Megaphone pattern, many times this pattern predicts a nearby reversal (in the same timeframe). The Weekly price action is still very bullish. The passing week has been the 3rd week with Read More
Like most other stock indexes, the FTSE100 had also a relative small range consolidation bar, made of a clear correction and a reversal on the Daily timeframe. The market looks like it is heading to take out the High of August 2015 at 6764.82, but a very strong resistance expecting it at the 6694 area, Read More
The FTSE index was one of the strongest indexes throughout the passing week, and the volatility created was really remarkable. Monday was bearish to test the Low of the bearish move of the Brexit vote, hardly reached half the way down, and then very bullish 4 days without looking backward. Last review I mentioned that Read More
Examining the shocking wave after the Brexit decision published, although Friday’s bar range was huge, -as far as bigger timeframes are the matter, even the Weekly timeframe, it didn’t change much but extending an existing range both to the upside and to the downside. The big Weekly bar finally closed in the middle, meaning much more sideways Read More