Start off by looking at the FTSE100 daily chart without the 20/50 dma.
This chart has the MACD indicator, Parabolic Sar indicator and Bollinger bands on it. As can be seen MACD and Bollinger Bands have given clear indication of the upward move on the FTSE over the last month or two. This may now be coming to an end as the MACD is heading down, but still has a way to go before going below the zero line. The Parabolic Sar indicator has just gone negative which may also indicate that we are in for downward move lasting several days.
FTSE 100 on the 20/50 dma crossover still looking positive at the end of last week, but this mornings move down and the negative trending indicators that can be seen on the above chart could show us a reverse soon. Price was touching the 20 dma at the end of last week, but after weakness today it may well be below tomorrow. Will the 50 dma hold? Looks unlikely at the moment given the strength of the move down this morning.
Eurostoxx 50 still looking the most positive on the 20/50 dma crossover, although this move up almost looks a little too sharp.
 |
| FTSE 100 |
 |
| Eurostoxx 50 |
 |
| Dow |
No comments:
Post a Comment