Monday, 15 February 2016

Oversold bounce......

The FTSE triggered a short term Buy at 5750. Upside initial target is 5900 before the end of the month. If the bounce last more than a few weeks, the FTSE should get back to the 1st Feb High at 6115.  The 200ema 6362 is falling by 5pts per day and will be at 6115 in 49 days = Friday 22 April.

For the SP500 1965, the bounce should make 1950 with a possible move to the falling 200ema 2020 which is falling 2pts per day and will be 1950 in 35 days = Monday 4th April

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