Saturday, 30 July 2011

FTSE 5815 Sell Triggered on 27 July

FTSE traded in a 180pt range last week.  30 min Chart gave a SELL signal on 27 July at 5910 on Wednesday 27 July. Note : I use the ema(9) < ema(50) as a SELL trigger on 30min chart (Short term) , Daily chart (Medium term) and Weekly chart (Long term). Currently, the Short and Medium term are on SELL, with Long term on a SELL signal with a weekly close below 5780.  Weekly Pivot 5846 supports Bear move to 5650 this week with strong support at 5645 (16 June low).  Last Bear move was 7 trading days to 18 July low 5752, a move down of 300 points.  Bears will look for a break of 5752 with a target 5645 by Friday 5 August ..

Trade Price Stop Target Low/High S1/R1 S2/R2
Buy 5650 5620 5850 5952 5920 6026
Sell 5850 5880 56505772 5740 5666

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