Next targets for FTSE bears

by Malcolm Pryor on 14/11/2012
There is possible support on FTSE100 at the mid point between the open and the close of the big up day of September 6, around 5718, also indicated by 2 candles with massive tails and lows in the same zone (November 9 and 13). But todays bearish action in US indices now lines up the next two target for FTSE bears: 1) the low of that large up day of September 6, 5659 2) the low of the previous day 5635. The three day candlestick pattern which formed on September 4 5 and 6 was a very powerful example of a morning star (bullish) so this would be a logical place for the bulls to rally, if they are going to.


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