I posted last week that we would have a rally up to about the 5730 level before dropping, and yesterday we had it all in one day, right down to 5540. I hope some of you managed to ride that drop yesterday from 5725. I had a low point of 5550 on my radar which [...]
Monthly Archive for November, 2010
We have had a bit of a drop today, but Wednesday and Thursday saw good positive finishes as I mentioned in Monday and Tuesday posts. Today could recover from the lows of 5600 seen earlier. The 20 day channel bottom has held well too, though looking at the graph below both the 10 and 20 [...]
The 20 day channel bottom held well this morning and today has seen us bounce up from the 5580 level mentioned yesterday. The 20 day bottom was 5576 and has held. I expect upside for the rest of this week, then a drop, then rising from early December to close out the year about 5850.
Bit of an update after this afternoon’s action and FTSE close price. The FTSE broke the 5630 level earlier, which was a fairly key support area and we are now also at 11000 on the dow. 11000 might well act as decent support, however, if that breaks then we could head down to 10700. The Bianca [...]