FTSE Outlook for 28th July 2009

Both FTSE and NIFTY seem to be at an interesting time point on the Gann grid. Both are exactly at the mid-point to their nearest timing lines and are showing some weakness. As I write this, I note that the DOW has closed down today. No doubt, Asian markets will take their cue from there.

On FTSE, note that there is potential resistance around 4640. Having scaled a high of 4615 today, there's not a great deal of room above. Perhaps grey clouds (if not dark) are gathering.

Projected High: 4,631.6406 (45.5107 points)
Projected Low: 4,569.6104 (16.5195 points)

Bullish above 4,599
Bearish below 4,572