As the chart shows, the index is seemingly hitting a wall at around 5300. Although the trendline studies I have put up on the chart seem to suggest a possible target in the vicinity of 5400, we may have possibly seen a top at 5300 itself. As ever, the market is right and we can only try and approximate its direction and destination. Good luck with your trades.
Sunday, November 15, 2009
FTSE Outlook week commencing 16 Nov 09
As the chart shows, the index is seemingly hitting a wall at around 5300. Although the trendline studies I have put up on the chart seem to suggest a possible target in the vicinity of 5400, we may have possibly seen a top at 5300 itself. As ever, the market is right and we can only try and approximate its direction and destination. Good luck with your trades.
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I agree. Day trader Marky here. I trade, ftse, vod,barc, gold and oil. I reckon we are in the grip of an equities bubble. Whats the point of putting your money in the bank when equities provide better returns= equity bubble. I could see the ftse topping out at about 5,500 in dec 2009.
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