The FTSE continues on strong whilst other markets enter bear territory with the NAS and DAX trading below there D200. This is on the back of a shift away by retail investment as institutional investors outweighed retail investors significantly over the previous weeks. Reflecting on that dynamic I wonder if the there is enough leg in the FTSE to continue higher.
My Short term bias is for a trip back down the around the monthly 8ema level(7270) before a continuation. This has been a move seen in the past 4 out of 5 months with the 5th just narrowly missing the level. It has been this volatility which has been so profitable for me.
A bearish candle on friday and a close around the 8ema suggest the bears may be about to take control in the short term. I expect to see a close nearer the lower weekly extreme (7330) this week.
Trade safe
My Short term bias is for a trip back down the around the monthly 8ema level(7270) before a continuation. This has been a move seen in the past 4 out of 5 months with the 5th just narrowly missing the level. It has been this volatility which has been so profitable for me.
A bearish candle on friday and a close around the 8ema suggest the bears may be about to take control in the short term. I expect to see a close nearer the lower weekly extreme (7330) this week.
Trade safe
