FTSE 2 hr trend is up and the aim is to make the 8 day MA to turn up as well. Today's high was 5.854 touching an important R point and then dive back to 5820. Very choppy but 5860 is the point to get over and hold for the 8 day WEEKLY chart to change its downtrend. At the same time many traders are now looking for short positions high up. This game will probably continue. FTSE has support at the rising 21 day MA and Friday or later today the 8 MA can turn up but it will be far below the 21 MA. Difficult to tell the outcome right now.
DOW is still strongest and the 8 day MA will turn up latest Friday before crossing the 21 MA which means a god chance to take a new high soon. The same goes for SP500. DAX is still trading exactly as the DOW so from a technical perspective a new high could be the target.
DOW is still strongest and the 8 day MA will turn up latest Friday before crossing the 21 MA which means a god chance to take a new high soon. The same goes for SP500. DAX is still trading exactly as the DOW so from a technical perspective a new high could be the target.
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