FTSE 100 rally from the recent lows appears to have finished and is sign a ordinal leg of the fur tendency that targets a new low for the period for the FTSE 100 Index. This is on the pay for of the continuing smash in the commercial enterprise two-dimensional figure due to the ongoing Subprime sparked appreciation noise.
Technical Analysis of the FTSE 100 Index
1. Trend Analysis - The Break beneath 6000 changed the dynamics of the awaited summer improvement into something far more stringent. The rife gather together towards 6400 tho' hefty is seen as self corrective and in credit of a third leg behind. The ask mark from a tendency perspective is whether the 5821 smooth will taking hold for a double nethermost or not. The recent hiatus of 6000 has diminished the cattle open market. However, eldest material possession first, tendency investigation targets a reallocate hindmost towards the 5821, a natural event of which would reference point a downtrend to 5500.
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2. Time Analysis - The tertiary leg downcast should be longer in continuance than the preliminary leg down, as the market would force more event to physique a base, hence signals a downtrend that is awaited to propagate into Mid October at least possible.
3. Elliott Wave Analysis - The past elliott whirl analysis of the FTSE silent a bigger size downtrend than primitively anticipated, which is beingness unchangeable by the development terms commotion. The atlas shows a accomplished A motion to 5821 and the present-day assemblage as a B motion which confirms expectations of a 3rd leg C billow lower, that is supposed to happening the A flounder low, for an ABC stencil. The point of reference for the decline is again 5500.
4. MACD Indicator - The MACD gave a incredibly pessimistic gesture with a fissure of the June 06 lows, which suggests at the slightest that the MACD will go back the -100 realm. The nonindulgent up way was from extreme oversold levels, which has understood the FTSE towards 6400. This has helped to manual labour out the MACD's oversold nation which ability that FTSE 100 Index little by little now looks dangerous to continued the downtrend towards 5821.
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Summary - The FTSE 100 Index is expected to resume the downtrend towards a reference of 5821. Depending on whether it breaks or not will find out the farm animals marketplace way for several instance. At this factor in time, measure marginally favors a pause of 5821 and a way towards 5500, for this reason credit rustle bad information is far from finished !
Original Article Date - 5th Sept 2007
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