Wednesday, January 14, 2009

FTSE Outlook for 15th Jan 2009

That was a massive fall we saw on the FTSE yesterday (14th Jan). I suspect the fall will continue until we touch 4076-4093.

The larger red circle marks the zone where I expect this bounce to occur. Quite often, the rising green diagonal tends to provide support once price has travelled below the upper "box." However if that line fails to provide the expected support, then a visit to the 360 degree line of 3850 cannot be ruled out!

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