FTSE continues to "charge" upwards with 5700, the next target. Pivot 5623 still favours LONG trades with 5ema(5589) acting as Resistance. On a shorter timeframe (5min) the 10ema(5639)>20ema(5634) is supporting Long trades from 5620-5625. Initial upside target is 5649 with 1st resistance level at 5662. Shorting the 23 day move up has been a dangerous and losing game. BUT, the market is extremely over bought and a snap back is long over due. Protect Long trades with trailing STOPs at the Daily 5ema. BBH 5693 is the next BULL target. BEARS will be looking for a break below 5600
No comments:
Post a Comment