The following remark appeared in last week's post on the daily bar chart pattern of FTSE 100: "Expect bears to pounce if the technical bounce from oversold conditions tries to turn into another bear market rally."
After facing some resistance from the falling 20 day EMA, the index rallied on good volume support to rise above its 20 day and 50 day EMAs and close the week with a gain of 3.1%.
At the time of writing this post, bears are trying to dominate again. The index has dropped below its 50 day EMA, and is trading more than 300 points below its falling 200 day EMA in a bear market.
-- After facing some resistance from the falling 20 day EMA, the index rallied on good volume support to rise above its 20 day and 50 day EMAs and close the week with a gain of 3.1%.
At the time of writing this post, bears are trying to dominate again. The index has dropped below its 50 day EMA, and is trading more than 300 points below its falling 200 day EMA in a bear market.
Read more at:
http://investmentsfordummieslikeme.blogspot.in/2016/02/stock-index-chart-patterns-s-500-and.html
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