FTSE is more or less in the same situation as the DAX shown below. What is said about DAX you can read there.
Daily trend during 90 days. Click the chart and observe how the 8 MA is turning down before crossing the 21 MA. That is a sell signal.
Weekly there are 9 weeks sideways trend now.Last weeks bar finished as a Key Reversal. The 8 MA will continue down. The 21 MA is still rising and will continue up. The close came in just above that MA.
The monthly chart still has the 8 MA falling below the falling 21 MA. This month we might see the current bar getting below the 8 MA and stay there. In that case a long downtrend might follow.
No comments:
Post a Comment