A few days ago I posted on the FTSE 100. I mentioned at that time the (now clear) Bear Flag formation in blue.
We've broken out of that Flag for a few days now and have been in a sideways horizontal channel so far.
I can only see this as gift for anyone who hadn't already been short.
There's a potential 15% downside retracement that I've penciled in: by...
I'd like to refine my past post on the FTSE 100 Bear Flag - to give it a bit more strength.
There's a key level of support (now resistance) in white. This is a right-angled descending broadening wedge that's been forming since Feb 2017.
The white support of this pattern neatly intersects with the blue colour Bear Flag as of April 29 (Today)
I think this adds a...
I'm not sure if this is a bearish pennant or ascending wedge, but I think/hope the effect is going to be the same.
We're all probably highly skeptical of the US markets gaining any more ground.
The blue channel dates back to October 18 and held the SPX until March 20 when it broke out as part of its 30% draw down.
I can see that the lower level of this blue...
There are many suggestions that we're seeing an ascending triangle (with a confirmed breakout) on the UKX.
The white horizontal line shows the resistance of the Triangle.
Something just didn't feel right for me on that pattern - particularly the 'breakout' which seemed muted and weak considering this multi-week build up.
Instead I'm suggest a bearish flag in...
