Hope a good weekend was had by all. We have a large gap up from the close from Friday and are currently around 5250. This level was strong resistance previously and I am still about 80% sure of a drop down to 4800 if not further. However, if we rise up above 5250 signifcantly then I will revise my expectations of that drop. It started at 5400, bounced at 5000, up to 5250 (here) and then further down is what I am thinking, in a zig zag pattern.
The 4 hour stoc has levelled off also, as you can see below.
4 hour
The Bianca trend lines are here, as you can see we are testing the top of the 10 day channel at the moment at 5240-5250.
ftse bianca support and resistance
