FTSE100 update - a look at the daily chart

The chart is still in a bullish mode, but with a little weakness in the trend which should be expected after the run up in January. So far there has been no big sell off and while the MACd indicator is negative it is still some way off from the zero line. Price is now touching the 20dma, but still has some way to go to hit the 50dma. We seem to be at one of those wait and see junctions, but there is little indication that the market wants to fall a long way.

FTSE100 Daily