CHART ATTACK - Longs and Shorts. (epic char)
(CHAR)
goldfinger
- 12 Jan 2010 20:42
A thread created for the TA of charts on the LSE markets. (aim and plus included)
Beginners and advanced wellcome. Long or short, just post your views and lets have some positive discussion. FIRE AWAY.
NB, UK indicies and sector charts can also to be included in posters analysis
Looks like its trying to break a downtrend line going from Feb, and looks to have some volume behind it yesterday and today. Which could be taken as a positive. It is outperforming the FTSE350 banks index.
Longer term there's a fairly clear sideways range.
It's a sector I'm a bit wary of myself (have a few BARC but that's it) but there have been some great gains for the brave over the past few weeks.. Chart wise I think you could build a case for some further gains :)
Also spotted a possible "island reversal" pattern on the daily chart. It's not a pattern I look for usually and I don't think they are considered that reliable, but there it is.
Ok thanks Jon - I am probably too exposed to the financial sector and ironically I sold BARC yesterday @202 as I had a good profit and thought it may retrace.
5400 on FTSE is fibonacci 50% retractment level. we sailed down through the 62% level at5600 earlier. Can 5400 hold?.
5400 on ftse also previous resistance leve(support now)l high for Aug-to Oct former range market. Low being around 5000 -4900. If 5400 support goes 5000/4900 is a distinct possibility.