Sunday, 22 May 2011

Another weak start for the FTSE 5948

FTSE100  5948
Daily pivot 5968  and weekly pivot 5942 giving a mixed signals. 

Bears  will look for a break of last weeks low 5861 early next week with  targets 5867 (S1) and 5786 (S2). Bulls will look for a move above Daily pivot to target last weeks high 6017, 6023 (R1) and 6098 (R2). Weekly range 5800-6020.
BUY 5800 STOP 5770 TARGET 6023 (R1)
SELL 5998  STOP 6030 TARGET 5786 (S2)



S&P500   1333
US Market was down 0.3% last week. Weekly pivot 1333 and ema(5) 1336 > ema(9) 1332 still positive.

Break below last week's low 1319 will signal next move down to 1306 (S2) for BEARS.  
Move above 1345 (R1) will get BULLS looking for a retest of the 1358 (R2) and High 1370 
Weekly range 1306-1344
BUY  1306  STOP 1298 TARGET 1358 (R2)
SELL 1344  STOP 1352 TARGET 1306(S2)


GOLD    $1511
Gold was up 1.1% on the week with a range between $1472-$1515. 

Bulls will look to stay above Weekly ema(9) $14868 and pivot at $1499 with a target $1542 (R2). 
Bears will look for a break of $1500 to test move down to support  $1456 (S2). 
Weekly range $1483 (S1)-$1526 (R1)
BUY  $1490  STOP $1480 TARGET $1526 (R1) Risk/Reward 4/1

SELL $1525 STOP $1530 TARGET $1483 (S1)  Risk/Reward 8/1

No comments:

Post a Comment