We saw prices trade above 5311 yesterday during cash hours (8am - 4.30pm) and we also closed above this level on the days highs. This is short term positive action and has delayed any sellers coming into this market.
Yesterday's wave count is still valid but with prices trading above 5311, prices could theoretically trade all the way back to 5450 and the pattern would still be intact . We also have Barack Obamas speech today which is rumoured to provide details on QE3. This could change everything. Therefore expect another volatile day. Its a day for tunnels if I see a good price.
You can subscribe to this feed and receive free daily trading information by email. To subscribe click here
JOIN MARK FTSE SERVICE TODAY AND SAVE A MASSIVE 17% QUARTERLY OR 33% ANNUALLY - GET IT NOW!
0 comments:
Post a Comment