The following comment appeared in last week's post on the daily bar chart pattern of FTSE 100: "Daily technical indicators are bearish, and beginning to look oversold. Any technical bounce will probably be used by bears to sell."
FTSE briefly rallied past the 6000 level during the week before succumbing to bear selling. The previous low of 5768, touched on Aug 24 '15, was tested on Fri. Jan 15 '16 but not breached.
The index bounced up to close above the 5800 level, losing 1.8% on a weekly closing basis. At the time of writing this post, the index is trading below the 5800 level after touching a 3 year low of 5766.
FTSE briefly rallied past the 6000 level during the week before succumbing to bear selling. The previous low of 5768, touched on Aug 24 '15, was tested on Fri. Jan 15 '16 but not breached.
The index bounced up to close above the 5800 level, losing 1.8% on a weekly closing basis. At the time of writing this post, the index is trading below the 5800 level after touching a 3 year low of 5766.
http://investmentsfordummieslikeme.blogspot.in/2016/01/stock-index-chart-patterns-s-500-and_18.html
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