FTSE-100 Technicals & Fundamentals
City Index May 29, 2013 11:01 PM
<p>Complete Infographics on FTSE-100 Technicals & Fundamentals FTSE-100 rise since March 2009 vs. 8 other global indices FTSE-100 YTD Performance vs. 8 other global indices […]</p>
Complete Infographics on FTSE-100 Technicals & Fundamentals
The weekly chart shows a looming weekly close below 6,646 support, formerly the top of the two-year channel. This would pave the way for further losses towards 6,420-30 region, the sub-support from the November channel, which would post a decline of 2.6% from today’s close and a 6.4% decline from the year’s highs. In order for the FTSE-100 to decline by more than 10%, it would have to break below the April fifth low of 6,214, which is the bottom preceding the most recent uptrend.
Considering the historicity of the number of weeks without 10% declines as well as its negative performance in June, the FTSE-100 may be bound for a down month into July. The aforementioned levels are the ones to watch during the next sell-off. The quarterly chart, however, suggests long term momentum measures remain neutral to positive. 6,000 may become the next popular choice for picking a support level around autumn, but long term technicals suggest the bulls remain in command.
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