FTSE Outlook for 30th Jan 2009

FTSE EOD Chart

FTSE Intraday chart

From yesterday's post: "Two scenarios were presented. FTSE "opted" to rise to the upper line of the blue pitchfork. Quite reasonable to expect a bit of a pullback for today." The pullback did occur as envisaged. The only question now is do we have further to go? Probably, yes.

Moving on to the EOD chart, a rise to the 180 degree line (4364) cannot be ruled out but probably not before FTSE sheds a few more points.


Range Projection:

Possible High: 4,242 (52 points)
Possible Low: 4,095 (95 points)