Monday, 18 April 2011

FTSE trading in a narrow range

Upside target 6044 on Monday with 30 minute chart signalling a Sell at 5985. Downside target is 5963  the low on Friday 15th April. Fib 0.38-0.50 retrace of 470 point move up from Wednesday16 March low at 5600 to High of 6070 on Monday 11 April over 18 trading days gives a target 5835-5890 this week 18-22 April, before the next up leg into a High by the end of May around 6300. Ultimate target is 6700 later this year.


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