In the ftse 100 cash the price has just broken through and retested and rejected the cloud, this is a very bearish signal according to cloud analysts. The only outstanding signal is the Kijun sen Tenkun sen crossover underneath the cloud levels.
Levels surrounding the release.
very bearish but looks due for a correction.
Shares have been pushing off the back of rising commodities prices.
Looking at the price action the cash markets have rallied after a significant decline at the open. We rejected the 6707 support and since produced a bullish hammer candle. As it stands we are slap bang in the middle of the most recent value area and the price action suggests we will see a test of the recent resistance level of 6945 or the downward trendline...