I am back! I was expecting some more downside from the 5400 ftse level to be honest, however, we are now at a fairly significant figure – 10000 on the dow. I am expecting this to hold and we will see a bounce that will last for the next couple of weeks.
Have just done a quick bit of looking at the charts and more analysis will follow, but basically I think the 4 hour chart is signalling that we could be turning from this downtrend around here. We are also at the bottom of the 10 day and 20 day channels on the FTSE – both around 5110, and also the 50day channel isnt far away at 5074
Good to see you back Nick. Might be another good call. I cannot see the lows others are talking of so have been buying around these levels too mainly dow and BP. Shorting is such a risk when you have to pay out interest plus the dividend!
Cheers
Jon
Cheers Jon. I think we will get a rally from here for a while (cant put a timeframe on it at the moment, maybe dow at 10900) then all hell will break loose.