Let us consider the possible Cypher set up on the daily chart. We are considering a drop from the current level to point D stationed at 5756 levels (Point D is 78.6% of XA leg). At the current juncture such a move appears likely if there is a sharp recovery in the GBP/USD. That in turn appears likely if the Bank of England disappoints markets. Markets expect...
$FTSE100 UK100 short at multiple resis
The Paradoxical Risk-on/ Risk-off Asset positive correlation: 1. Risk off assets have outperformed to date, with Gold leading the gains at 28%, JPY following at 18% and US 10y treasuries Trading 16% up in 2016 - average at 20.5%. 2. Meanwhile, SPX trades 5% up since 4.1.2016 but more importantly, since 20th January lows SPX is up 15%. 3. this is significantly...
At the start of 2016 the PBOC began aggressively devaluing the off-shore Yuan against the USD, imo in an attempt to start the year with a competitive export:import advantage - with the aim of making 2016 a headline "come back" year for China amid the growing GDP growth and Credit bubble worries. As a result Equities across the board sold-off (-8.5% in a few...
Now Europe feels the most economic decline are associated with many factors .
Despite the rebound from the low of 6472 the index is still sufficiently far from the recent high of 6628 levels and hence the bearish price RSI divergence remains active. Hence, upticks are treated with caution. The index currently trades around 6561 levels. Failure to take out 6585 followed by a drop below 6565 (head and shoulder neckline) would open doors for...
Bearish price-RSI divergence on the hourly chart could see the index test rising trend line support seen at 6501. An hourly closing below 6500 would expose inverse head and shoulder neckline level of 6400. On the higher side, only an hourly closing above 6628 would signal the failure of the bearish divergence and open doors for 6700 levels.
As pointed out on Tuesday , a positive closing did result in the index rising to inverse head and shoulder neckline. The index confirmed a bullish break – inverse head and shoulder breakout –yesterday and the breakout is pretty much a done deal on the weekly time frame as well. This opens up doors for 7300 (breakout target), which as of now looks like a...
$FTSE worth taking a short at falling channel resistance
Possible FTSE scenario with blundering Boris leading the good ship UK.
Daily chart patterns Inverse head and shoulder Rising trend line intact Bullish crossover between daily 100-SMA and 200-SMA likely Golden crossover already happened in late April 2016 The rising trend line has remained intact despite 'exit' vote victory at last friday's referendum. This is good for the bulls and today's bullish closing...
$FTSE in shorting zone on all timeframes
Britain has voted today to exit the european union. What will this mean for the top 100 companies? Looking at the larger context on monthly timeframe of FTSE, I can see a corrective elliott wave pattern known as a flat. If this count is indeed correct, an impulsive decline is on the cards in the coming years What do you think?
Despite all the panic after Brexit, the bullish bat pattern and the inverse head and shoulder formation is still intact on the UK's mining heavy FTSE index. FTSE did not even drop to the point D (88.6%) = 5601. Today's low stands at 5727, which is 75.2%. The index currently trades at 6095. So even if we go lower from there, there is still plenty of support...
With the Brexit referendum vote on Thursday (6/23), markets are still volatile and uncertain with whether or not British voters will decide on leaving the European Union. As the Brexit polls began indicating that the "leave" vote began leading into this week on gaining momentum, the perplexed media were at odds on how to exactly explain the "phenomena." First,...
If Resistance of 6079 is broken, i think will go up. If next candle is bearish on 6052 i think will test 5900 again.