It has been a quiet week to date for FTSE

FTSE

Well we did break through some significant resistance yesterday but I think it was stops going off...as very quickly 23.6 7095 23.6 6781 the market came lower once more...we have a slight problem...The short term 4 hrly charts look extremely over- bought and are beginning to turn lower...The dailies however are not....they are once more beginning to turn posi- tive, even though in theory they are still overbought..

The markets do look like they want to trade higher,,,,but I think that unless we break above 7225 and stay above that then we are going to be in a bit of trouble....As I said,,,the market couldn't stay above 7200 for long...Look at the daily pivot....it rests at 7178....So we see what happens when the market makes a break above here...If it can 50 6971 50 7053 we look for either a short period of consolidation and then up again....This means to trade within a sideways band...Or we move lower....

Now currently 7145I40 is holding the downside...If we can stay break below here loo for 7124I18 area.. Our R2 is 61.8 6915 61.8 7174 at 7117..Our short term 23.6 is at 7095...Now we know this is good support from previously.....If we can get down to these lower levels..we would look to buy....

There we would hold longs unless a break below 7095 was posted...I don't at this moment this this support will 78.6 6837 78-6 7347 break....Lets see...it has been a quiet week to date for Fl'SE...Iets see what Freaky Friday does 2mrw...

FTSE

The research provided by Charmer Charts is provided solely to enable clients to make their own investment decisions and does not constitute personal investment recommendations. No recommendations are made directly or indirectly by Technicalanalysisreports.com or Charmer Charts as to the merits or suitability of any investment decision or transaction that may result directly or indirectly from having viewed the technical analysis investment research. Customers are therefore urged to seek independent financial advice if they are in any doubt. The value of investments and the income derived from them can go down as well as up, and you may not get back the full amount you originally invested. Derivatives and foreign exchange trading are particularly high-risk, high-reward investment instruments and an investor may lose some or all of his or her original investment. Also, if you decide to acquire any investment denominated in a different currency you should note that changes in foreign exchange rates may have an adverse effect on the value, price and income of the investment in your own currency. Technicalanalysisreports.com or Charmer Charts shall not be liable for any direct or indirect, incidental or consequential loss or damage (including loss of profits, revenue or goodwill) arising from the use, inability to use, interruption or non-availability of the technical analysis investment research or any part of the research materials published or otherwise any loss of data on transmission, howsoever caused. Whilst the research material published is believed to be reliable and accurate, it is not independently verified. Accordingly, no representation or warranty is made or given by Technicalanalysisreports.com or Charmer Charts, its officers, agents or employees as to the accuracy or completeness of the same and no such person shall have liability for any inaccuracy in, or omission from, such materials.