FTSE Outlook for 22nd Jan 2009

After what looked like a bad day for FTSE, it managed to claw back some of the losses on 21st Jan.

Just as NIFTY, FTSE too has reached the apex point (see yellow arrow). As mentioned in the past, these points are where reversals are seen to occur quite often. Given the fact that DOW put in a healthy bounce on the 21st, it would be quite reasonable to expect FTSE to follow. But as ever, trade what you see!