Tuesday, August 11, 2009

FTSE Outlook for 12th August 2009

The timing line proved to be of value as demonstrated by Tuesday's drop on the FTSE. Hopefully, this will now develop into a pullback lasting several days (and beyond!).

As for Wednesday, I think a bit of a bounce followed by some more fall is the most likely scenario. No doubt, the bears will be stirring and may be tempted to mount a full-fledged attack soon.

Projected High: 4,707.7241 (36.3843 points)
Projected Low: 4,621.3940 (49.9458 points)

Bullish above 4,683
Bearish below 4,659

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